The Wall Street Journal's
Min Zeng profiled Legg Mason
] unit Western Asset Management Co. and love of fixed-income assets. As investor concern about rising interest rates continues to fester, the unit has continued to buy U.S fixed-income such as longer-dated treasury bonds between mid-June and mid-July, Zeng writes. Western Asset Management also bought high yield corporate bonds and mortgage-backed bonds not tied to Fannie May and Freddie Mac, Zeng reports.
Co-chief investment officer at Western Asset Management, Stephen Walsh
, was quoted as saying that the bond selloff was exaggerated and said he would buy Treasury bonds again if 10-year yield gets close to 2.75 percent. Walsh was quoted as saying he has found fewer bargains in recent weeks.
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