El-Erian Says Be Wary of Steepening Yield Curve: Tom Keene

Investors should be wary of a steepening yield curve in the U.S. Treasury market, according to Pacific Investment Management Co.’s Mohamed El-Erian.

While yields on government securities due in eight years and less are anchored by Federal Reserve monetary policy, bond buyers should be wary of longer-maturity debt, El-Erian, the chief executive officer of the world’s largest manager of bond funds, said in a “Bloomberg Surveillance” radio interview with Tom Keene and Ken Prewitt.