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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)
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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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PIMCO's Gross Reduces Government Related Investments |
AdvisorOne - April 12, 2011 - By John Sullivan
PIMCO's $236 billion Total Return Fund reduced its share of U.S. government debt to minus 3% in March, while increasing its cash and cash equivalents to 31%, its highest percentage in four years, according to the company’s website.
The reduction comes after a similar move in February, when PIMCO head Bill Gross reduced the portfolio’s government-related investment’s to zero.
At the time, Eric Jacobson, director of fixed-income research for Morningstar, said, "News started to roll around the market that he had been completely sold out of Treasuries, and lot of people took that to mean that he was so determined to avoid them that he had literally wiped them out of the portfolio, which isn’t exactly true."
What is true, Jacobson said, is that the portfolio had about 3% exposure to TIPS and agency bonds, or 6% total market value, but used swaps that move in the opposite direction to counter interest rate risk. "So if you just look at the totals, it looks like zero, but in fact it’s broken up with a couple of parts," Jacobson said.
The difference between a portfolio with no government securities and one with zero market exposure, according to Jacobson, is that "in theory agency bonds don’t have to move exactly with Treasuries."
One reason for the reductions might be contained in Gross’s latest newsletter, in which he writes the U.S. is “out-Greeking the Greeks.”
For the complete article.
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Income Security Recommendation January 2013 Issue.
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