Gross Cuts Holdings of Treasuries to Lowest Since Last October

Gross Cuts Holdings of Treasuries to Lowest Since Last October

Andrew Harrer/Bloomberg

Bill Gross, co-chief investment officer of Pacific Investment Management Co. (PIMCO), at a conference in Beverly Hills, California, 2011. Gross wrote in his monthly investment commentary last week that the U.S. will no longer be the first destination of global capital.