MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, March 10, 2011 Gross 'Exorcised' Treasuries Bill Gross just abandoned U.S. treasuries. Bloomberg and the New York Post report that last month the star Pimco [see profile] dropped government debt from his $237 billion Pimco Total Return Fund, after warning that Treasuries might be "exorcised" from his portfolios. According to the Post, in January Total Return held 12 percent of its assets in Treasuries and 23 percent (up from five) in cash. "Treasury yields are perhaps 150 basis points or 1.5 percent too low when viewed on a historical context and when compared with expected nominal gross domestic product growth of 5 percent," Gross wrote in his latest monthly investment outlook. Printed from: MFWire.com/story.asp?s=36226 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |