doesn't trust Treasury bonds. The manager of the largest bond fund in the world last month slashed holdings in Pimco's
] Total Return Fund
of Treasury bonds, reports the Wall Street Journal
Gross brought holdings to 21 percent in August from 33 percent at the end of July, according to data from the company's website
Gross said in an interview with Dow Jones
last month that his worries that long-term inflation risks might be generated by the Federal Reserve's money stimulus fueled his decision to avoid 10- and 30-year Treasury bonds.
The Total Return Fund, which has $272.5 billion AUM, went from 51 percent U.S. mortgage-backed securities to 50 percent, the Journal
Stay ahead of the news ... Sign up for our email alerts now