Pimco added US Treasury securities this week, CIO Ivascyn says

by Dramelin 6:30 AM 0 comments

Bond firm Pacific Investment Management Co added longer-term U.
Treasury securities to its portfolio this week and also sold some investments tied to volatility against the backdrop of stable economic growth and a slow-moving Federal Reserve, Dan Ivascyn, group chief investment officer, said on Friday.
"We felt recent bearish sentiment was a bit too extreme" in the bond market as reflected in the jump in yields, Ivascyn said in a telephone interview.
Ivascyn said moderate growth, low inflation, a cautious U.
central bank, limited policy traction in Washington and continued global central bank accommodation "will support lower, range-bound rates.
" Ivascyn added that the email controversy involving the son of U.
President Donald Trump "is one of many distractions that will make it a bit more difficult to pass meaningful legislation impacting the economy.
" Ivascyn`s views and opinions are widely followed as he helps oversee one of the largest asset management firms in the world.