PIMCO Slashes Government-Related Holdings; Is This a Bet On No QE3?
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Market participants are discussing a move by Bill Gross' PIMCO to lower the "government related" holdings in its massive $240 billion Total Return Fund to zero.
According to data reported by ZeroHedge, PIMCO's Total Return Fund lowered its "government related" security holdings from $28.6 billion to $0.00, while boosting its cash holdings from $11.9 billion to $54.5 billion.
On the move, ZeroHedge pontificates:"Bill Gross is now convinced there will be no QE3 at all, at least based on his just putting his money where his monthly pen is! And if Bill Gross, the most connected person to the upcoming actions by the Fed, believes there is no more quantitative easing, it is really time to get the hell out of dodge in all security classes - bonds, and most certainly, equities.
According to data reported by ZeroHedge, PIMCO's Total Return Fund lowered its "government related" security holdings from $28.6 billion to $0.00, while boosting its cash holdings from $11.9 billion to $54.5 billion.
On the move, ZeroHedge pontificates:"Bill Gross is now convinced there will be no QE3 at all, at least based on his just putting his money where his monthly pen is! And if Bill Gross, the most connected person to the upcoming actions by the Fed, believes there is no more quantitative easing, it is really time to get the hell out of dodge in all security classes - bonds, and most certainly, equities.
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William H. Gross, Pacific Investment Management Company, LLC (PIMCO)Sign up for StreetInsider Free!
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