NEW YORK (MarketWatch) -- Bill Gross, founder and co-chief investment officer of Pacific Investment Management Co., has turned more bearish on the U.S. government-related bonds including Treasurys, reflecting his growing worries over the country's swelling fiscal deficit and mounting debt burden.
After dumping all such holdings in Pimco's $235.98 billion Total Return Fund, the world's biggest bond fund, in February, Gross placed bets wagering on further price decline in these type of securities in March, known as shorts in financial markets. That pushed holdings of U.S. government-related debt weighted by market value down to negative 3% by the end of March compared to zero in February and 12% in January, according to data available on the company's web site on Sunday.
I think he's CORRECT. IF you are a foreign money manager are you REALLY going to lend money to a counrty who's political parties thinks it's more important to fight over Planned Parenthood and the EPA than to produce a budget?
NEW YORK (MarketWatch) -- Bill Gross, founder and co-chief investment officer of Pacific Investment Management Co., has turned more bearish on the U.S. government-related bonds including Treasurys, reflecting his growing worries over the country's swelling fiscal deficit and mounting debt burden.
After dumping all such holdings in Pimco's $235.98 billion Total Return Fund, the world's biggest bond fund, in February, Gross placed bets wagering on further price decline in these type of securities in March, known as shorts in financial markets. That pushed holdings of U.S. government-related debt weighted by market value down to negative 3% by the end of March compared to zero in February and 12% in January, according to data available on the company's web site on Sunday.
I think he's CORRECT. IF you are a foreign money manager are you REALLY going to lend money to a counrty who's political parties thinks it's more important to fight over Planned Parenthood and the EPA than to produce a budget?
I think he is making a personal statement here and it could easily be wrong, but look at the portfolio..it is like 3% of assets, its nothing at all but a gesture.
Him holding cash at 30% plus is a huge risk, much more than being short treasuries..
Rat,
I think he is making a personal statement here and it could easily be wrong, but look at the portfolio..it is like 3% of assets, its nothing at all but a gesture.
Him holding cash at 30% plus is a huge risk, much more than being short treasuries..
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