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Firms Go Against Bill Gross' Fixed Income Play

BlackRock and Pioneer Investments are among firms that are advising clients to bail out of short- and intermediate-maturity bonds due to concerns that economic growth may cause the Federal Reserve to back off on its pledge to keep interest rates low. So reports MarketWatch.

Such calls go against PIMCO bond manager Bill Gross, who says moving into short-term bonds may help reduce interest rate sensitivity in portfolios.

Read the full article from MarketWatch.

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