Skip to comments.Pimco says Italian bond selloff unwarranted
Posted on 07/13/2011 1:36:18 AM PDT by buzzer
Pimco, the world's top bond fund manager, is using the latest selloff in Italian government debt to increase its holdings, according to Andrew Bosomworth, the head of its fixed income portfolio management.
"We're using the dislocations in the market to reduce underweights in Italy," Bosomworth told Reuters. "Italy is not in the same boat as the peripherals. They're not comparable. Italy has a debt stock problem but it's not comparable to Greece in terms of institutions and track records."
Bosomworth said he was not talking up his portfolio. He said Pimco was starting from an underweight position.
German daily Die Welt reported earlier in an excerpt of a story to appear on Wednesday that Pimco believes the selloff in Italian debt is exaggerated and presented an opportunity to buy bonds.
(Excerpt) Read more at reuters.com ...
Just means the sell-off started before PIMCO could get out. They always talk their own book.
Damn,and I just bought 875 shares of PTTAX on the first of July.
Just means the sell-off started before PIMCO could get out. They always talk their own book.>>>>>>>
EXACTLY! Biggest “talk their book” guys ever on planet earth
Just my take but it is reasonable for Pimco to reverse course three months later. They very publicly sold off nearly all their USG securities. 27 billion as I remember
Well, I guess I’d just like to know how, why, and when the decision was made. Call me curious :)
Not saying they aren’t good, they are big enough to move rates. Just that when they try and talk the market up, it’s a good sign they are trying to unload a position.
I am happy for you and hope they continue to do well for you.
Pimco is less than 15 percent of our retirement fund. I’m also looking at one of the Nuveen funds for some tax-free cash from an insurance policy in the family.
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