Pimco Rejected ‘Sell America’ Talk and Won Big With US Bond Bet
Photographer: Kyle Grillot/Bloomberg
The bad news just seemed to keep piling up for Pacific Investment Management Co.
Across April and May, the bond giant’s positions in 5- to 10-year Treasuries and mortgages were getting hammered. First, after President Donald Trump’s punitive “Liberation Day” tariffs, and then amid the burst of “Sell America” calls that followed.