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Rating:Pimco Points Finger at Media For Bond Selloff Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 28, 2013

Pimco Points Finger at Media For Bond Selloff

News summary by MFWire's editors

It looks as if Pimco [profile] is pointing fingers at everybody, but instead of focusing on the Fed this time, Pimco is now blaming the bond exodus on the financial media, CNBC's Matt Clinch writes.

Douglas Hodge, COO of Pimco, was quoted by Clinch as writing on the Pimco site, "In the aftermath of the financial crisis, the media--which play a large role in setting the tone of the markets and the psyche of investors--went from being cheerleaders for bonds, stressing their virtues and role in maintaining a diversified portfolio, to romancing the notion that bonds are riskier than stocks."

Hodge made sure to add that America's largest pension funds and insurance companies have been buying long-dated bonds, which could help to de-risk portfolios in the long-term, Clinch writes. Clinch reports that Hodge also maintained that yields will rise gradually instead of spiking through 3 percent after the release of U.S. non farm payrolls, as some have suggested.

To read more, click here.  

Edited by: Casey Quinlan


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