It's a Good Environment for All Asset Classes: Harrison
Pacific Investment Management Co.’s Total Return Fund increased its holdings of U.S. government debt to the highest in 18 months just as investors including Jeffrey Gundlach and Bill Gross turn cautious. Treasuries and related securities accounted for 39.7 percent of the fund’s assets in June, up from 36.4 percent in May, according to data on the company’s website. Bond investors are weighing the benefits of adding to their holdings as U.S. data show uneven growth, with employment surging in June after stagnating in May. Bonds surged globally in the second quarter as the U.K.’s vote to leave the European Union sent investors rushing to the relative safety of fixed income. BlackRock International Chief Macro Strategist Rupert Harrison discusses with Bloomberg's Francine Lacqua on "The Pulse."