Treasuries Extend Slump as Pimco Dumps Two-Thirds of Holdings

The Pimco Total Return Fund, which lost its place as the world’s largest bond fund this year, cut almost two-thirds of its U.S. government debt holdings in May just in time for a June selloff. Total Return, run by Pacific Investment Management Co., reduced government and related debt to 8.5 percent of assets from 23.4 percent in April, according to the company’s website, amid a second-quarter selloff in Treasuries. “All of the fundamentals are pointing in a bearish direction for the bond market.

Treasuries Extend Slump as Pimco Dumps Two-Thirds of Holdings source: http://finance.yahoo.com/news/pimco-cuts-government-debt-stake-043546323.html