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Originally posted by marg6043
reply to post by redhatty
Incredible with all the problems in the nation, unemployment, foreclosures now this, and the markets are doing great today.
That tells you that while American falls in decay, somebody but just the few can cash and make money still.
But everything is ok, after all is all about the mental state that the markets numbers can generate on the rest of the population if numbers are up people will feel a lot better.
Pimco's Gross Raises Government Debt Holdings to Highest Since July 2007
March 10 (Bloomberg) -- Bill Gross, manager of Pacific Investment Management Co.’s $138 billion Total Return Fund, increased his holdings of U.S. government debt to 15 percent in February, the highest percentage since July 2007.
Pimco’s founder and co-chief investment officer bought government debt after holding a negative position in January, according to the Newport Beach, California-based company’s Web site. Gross also boosted the world’s biggest bond fund’s holdings in mortgage-backed securities to 86 percent of total assets, up from 83 percent last month. The fund held a negative 25 percent position in cash equivalents.
While the government debt category includes Treasuries, Gross has said in the past that Pimco is not interested in buying the securities. In February, Gross said it was “incumbent” upon the Federal Reserve to buy Treasuries but that he wouldn’t follow the central bank’s lead. Gross missed out on the biggest Treasury market rally in 14 years in 2008, saying that yields were too low because inflation will accelerate as the deficit surges.
“We wouldn’t buy Treasuries but we would buy bonds that are correlated and related to Treasuries with a higher yield,” Gross said in a Feb. 5 interview on Bloomberg Television.