Pimco emerges as a buyer in Treasury market selloff, says Bond Vigilante theme 'a bit extreme'

Pimco, one of the world’s biggest asset managers, is far from throwing in the towel on the roughly $25 trillion Treasury market despite its selloff in August, according to Mike Cudzil, a fixed-income portfolio manager.

“Obviously, a lot has transpired in a short period of time,” Cudzil told MarketWatch on Wednesday. He pointed to Fitch Rating’s cutting its top AAA ratings for the U.S. to AA+ in early August, the Treasury Department’s surprising $1 trillion borrowing estimate for the third quarter, and the Bank of Japan’s tweaks to its policy of yield curve control.

While recent moves have been sharp, the 10-year Treasury yield started the year around 3.79% and was near 4.19% on Wednesday, a change of about 40 basis points, according to FactSet.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stocks Climb Despite Rise in Treasury YieldsTech shares helped support stock indexes even while government-bond yields reached new decade-plus highs.
La source: WSJ - 🏆 98. / 63 Lire la suite »

Europe stocks head for higher open; 10-year Treasury yield hits 16-year highEuropean stock markets are heading for a higher open Tuesday.
La source: CNBC - 🏆 12. / 72 Lire la suite »