Pimco Bond Fund Cuts Bet as Dimon to Gundlach Warn on Rates Path
By-
Total Return Fund reduces duration to lowest level since May
-
JPMorgan CEO Dimon says it’s time for the Fed to move
The Pimco Total Return Fund, the world’s biggest actively run debt fund, is trimming its bet on bonds.
Total Return cut the duration of its holdings to 5.27 years as of Aug. 31 from 5.44 years at the end of July, based on data on the company website. It was the lowest level since May. It also reduced its holdings of U.S. government and related securities last month.
U.S. 10-year yields climbed to the highest level since June on speculation the Federal Reserve is preparing to raise interest rates before year-end. It’s time for the Fed to move, said Jamie Dimon, the chief executive officer at JPMorgan Chase & Co. DoubleLine Capital Chief Investment Officer Jeffrey Gundlach said investors should prepare for rising interest rates…
Pimco Bond Fund Cuts Bet as Dimon to Gundlach Warn on Rates Path
