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.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks Climb Despite Rise in Treasury YieldsTech shares helped support stock indexes even while government-bond yields reached new decade-plus highs.
Source: WSJ - 🏆 98. / 63 Read more »

Europe stocks head for higher open; 10-year Treasury yield hits 16-year highEuropean stock markets are heading for a higher open Tuesday.
Source: CNBC - 🏆 12. / 72 Read more »