B · Normal
[Pimco downplays its bearish stance on long-term U.S. bonds, saying valuations are attractive] On September 22, Daniel Ivascyn, chief investment officer of Pimco, said that the rise in long-term U.S. Treasury bond yields above 5% is prompting the company to reduce its underweight position in such bonds. Ivascyn said Pinhao is allocating U.S. Treasuries in a more balanced manner as a global bond selloff pushes long-term U.S. bond yields toward nearly two-decade highs. This means that on the one hand, the company has reduced its long position on 5- to 7-year U.S. debt, and on the other hand, it has also reduced its short position on long-term U.S. debt.
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