Bonds
Pimco’s Ivascyn Sees ‘Bumpy, Bumpy Road’ Ahead Helping Bonds
- Market, economic risks make bonds a good defensive play
- Fixed income is attractive versus equities at 4% US yields
Daniel Ivascyn
Photographer: Misha Friedman/BloombergThis article is for subscribers only.
Daniel Ivascyn, the world’s biggest active bond fund manager, says he’s just about ready to start adding to Treasury positions again. Ivascyn, who manages the $158.3 billion Pimco Income Fund, trimmed some holdings as US bonds rallied sharply in recent weeks — while remaining long the market — and is now looking for opportunities to buy some back after yields grinded higher the last few days.
“We’re back to 4% in two-years and if the market takes out a cut or two from here, we would add back more tactical duration,” Ivascyn said in an interview Wednesday.