Pimco’s Gross Cuts U.S. Government-Related Debt Holdings in June
This article is for subscribers only.
Pacific Investment Management Co.’s Bill Gross decreased his holdings of Treasuries and government-related debt in June amid speculation the economy was building momentum and the Federal Reserve would raise interest rates sooner than forecast.
The proportion of U.S. government-related debt in the $225 billion Total Return Fund was 47 percent last month, data posted yesterday on the company’s website showed. That compared with 50 percent the previous month, which was the highest level since 54 percent in July 2010.