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PIMCO Total Return Fund Hits $214 Billion, Gross Cuts Cash By $14 Billion, Buys Treasuries And Foreign Government Holdings
Pimco's Total Return Fund, which is now a ridiculous 54% higher than a year earlier, at $214.3 billion, has released its February holdings. The fund reduced it cash holdings from $19 billion in January to just $4 billion in February, and used the proceeds to buy $10 billion of US Treasuries ($75 billion in total), $5 billion in Mortgages ($36 billion), and also expanded further internationally, buying $3 billion in Non-US Developed country bonds (total of $41 billion). Pimco also surpassed the $10 billion mark in Emerging Market holdings. The firm kept its holdings of High Yield bonds flat at $6.4 billion.
While there were no major asset reallocations, Pimco did change its curve exposure materially, eliminating all of its sub-1 year paper, which in January amounted to $17 billion. The firm added the most exposure to the 5-10 year bucket, which increased by $12 billion to $72.9 billion. The greatest amount of holdings is still in the 1-3 year bucket. Holdings of 20 years or over were a moderate $15 billion. Is Pimco gradually shifting to a flattener position?
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pimpin ain't easy.
it ain't easy bein cheesy sleazy..
whatever man.. there are no rules.. nothing makes any sense anymore.. and I just don't care what anyone does in this market.
Call me when Rome is on fire.
Boomer holdings have run to perceived safety.
Pimco is a beneficiary of the moves of the big brokerages to put the heavily skeptical Boomer cash into something with positive, predictable and relatively safe returns....and a track record. Brokers are even paying the Pimco fees for higher end customers for a year.....just to keep their core business in house. Notice Schwab trading earnings not-so-good.
With a big domestic equities reversal, the move out of Pimco could be just as dramatic....then the brokers can resume the high fees game with their previously jinxed customers slowly moving back to the equities game. For now, investors are in a valuation quandry like never before......no matter how much sell-side bullshit the brokers talk.
Like them or not, Pimco is a pretty good indicator as to where many retail investors want to hang out for a while.
This comment isn't junk in the least.
+1.
One of the staples fo sho.
<< and used the proceeds to buy $10 billion of US Treasuries ($75 billion in total), $5 billion in Mortgages ($36 billion) >>
ahhh . Tyler ..... don't ya recall the previous 20 stories you ran about Bill Gross exhorting the unwashed masses to sell their Fannie Mae and Freddie Mac MBS bonds because they were so rich and Fed would soon stop buying ?
Now we see that while Gross was on CNBC pushing all who would listen to sell their GSE mbs that he was actually going the other way .
stop .... ponder ..... think ........
Pimpco is way connected. Bigtime beneficiary of the big table knowledge about the Fed's moves.
Just the auction action in the last few rolls should make anyone go wtf. You have indirects collapsing, directs doing big work and somehow the BTCs keep sailing along at 3-4.
There are less petro and trade dollars to roll the pre-2008 paper load, much less adding another $1.5 or $2T atop it. This shit doesn't pass 4th grade math muster.
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