Gross Boosts Bet Against Government-Related Debt Amid Rally
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Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., increased his bet against U.S. government debt in April just as Treasuries had their biggest rally in eight months.
Pimco’s $240.7 billion Total Return Fund had minus 4 percent of its assets in government and related debt, versus negative 3 percent in March. Cash and equivalents, the largest component, rose to 37 percent of holdings from 31 percent. Mortgage bonds declined to 24 percent from 28 percent, the Newport Beach, California-based company said on its website.