Bonds
Pimco, TCW Snap Up Bonds Ditched by Multistrategy Hedge Funds
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Pacific Investment Management Co., AllianceBernstein Holding LP and TCW Group Inc. seized on a buying opportunity after recent market volatility forced multistrategy hedge funds to offload risky corporate bonds.
Some such bets may have already started to pay off as prices on bonds for companies such as New Fortress Energy Inc., Hertz Global Holdings Inc. and Outbrain Inc. rebounded as quickly as they plummeted in recent weeks.