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Pimco Cuts U.S., U.K. Bonds as Borrowing Increase

By Implode-Explode Heavy Industries

"Pimco is ?more cautious? on corporate bonds and holds fewer mortgage-backed securities than the percentages in the benchmarks it uses to gauge performance, wrote Paul McCulley, a portfolio manager and member of the investment committee, in his 2010 outlook. The company is also underweight Treasury Inflation Protected Securities, according to the report on Newport Beach, California-based Pimco?s Web site."

Full post as published by Mortgage Lender Implode-o-Meter on January 04, 2010 (boomark / email).