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PIMCO Boosts Treasury Holdings To Highest Levels In 25 Months

PIMCO's Total Return Fund pushed its Treasury holdings to a 25-month high in July, climbing to 45.6% of assets.

That’s up from 39.7% of assets in June according to PIMCO’s own overview, making it the highest level since June 2014, Bloomberg reports. But US government securities are struggling. The market has been in a slump since 10-year yields fell to a record low at 1.3% early last month as investors revive bets the Fed will raise rates in early 2017.

Other forces holding down US yields are global negative rate policies and the collapse in yields across Europe and Japan, says Pimco global strategic adviser Richard Clarida, adding, “I don’t see that abating in the near term.” [Bloomberg]

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