- Pimco is trimming its underweight position on long-term US Treasuries after long-end yields rose above 5%.
- The shift is driven by the firm's chief investment officer, who pointed to the 5% yield threshold as the trigger for adding back duration exposure.
- The move signals a large fixed-income manager turning less bearish on duration with long US yields at 5%-plus.
Quotes
“long-term US Treasury yields above 5% are leading the firm to trim back its underweight position on the debt”