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Pimco Says 7-8 Year, 20-Year JGBs Cheap on Distorted Yield Curve

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Sept. 27 (Bloomberg) -- Pimco focusing on JGBs maturing in 7-8 yrs and 20 yrs, says Tomoya Masanao, head of portfolio management for Japan. * Strategy based on “distortion” of yield curve caused by

BOJ’s unprecedented bond buying: Masanao * “Yields will probably correct upward at some point as the

economy improves”: Masanao * “It’s not wise for long-term investors to aggressively buy

JGBs at current levels,” Masanao said. “Yields are likely

to stay capped at low levels in the near term, but we are

probably close to a bottom of the range”

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