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| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
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S&P National Bond Index
|
3.00% |
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S&P California Bond Index
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2.96% |
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S&P New York Bond Index
|
3.13% |
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S&P National 0-5 Year Municipal Bond Index
|
0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
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848.03 |
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S&P U.S. Preferred Stock Index (CAD)
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636.26 |
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S&P U.S. Preferred Stock Index (TR)
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1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
|
1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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Bond fund (and many others) bearish on US debt
Bond fund giant PIMCO shorts US Treasuries. Bond fund says end of QE2, US budget deficits, and looming inflation will push Treasuries lower. |
CNBC.com - April 12, 2011 - By John Carney
It was hardly surprising to learn this morning that Pimco’s $235.9 billion flagship bond fund had gone net short Treasury bonds.
But I was surprised to learn in conversations how many people were convinced that this was exactly the right move—although some wonder if Pimco might be a bit early.
Bill Gross, founder and co-chief investment officer of Pacific Investment Management Co., has been letting out bearish growls for months. In February, he took Pimco’s Total Return Fund’s holding of Treasuries down to zero. So this is just a tiny step further into the plan of the cave bear.
What’s behind this move? Well, you’ll hear all sorts of explanations—from market watchers and Gross himself. Too much debt, fear of inflation, foreigners exiting the market, the desire for yield after too many years of low interest rates.
Perhaps the most popular explanation is the coming exit of the Federal Reserve—which has been buying government bonds as part of its quantitative easing strategy—out of the market.
But some credit market insiders I spoke with say another factor should be taken into account: the debt ceiling fight.
“This is going to occur this summer—right when the Fed is implementing the QE2 exit strategy—and its going to scare off investors, both foreign and domestic,” one credit market veteran who spoke on the condition of anonymity said.
RELATED: 2011 forecasts for interest rates around the world... The rest of the article.
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| Stuff to look at |
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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