Global Demand May Push U.S. Yields Lower, Says Mentel
Pacific Investment Management Co.’s Total Return Fund increased its stake in U.S. government debt to a 25-month high in July as a rally in Treasuries pushed yields to an all-time low and then fizzled. Treasuries and related securities accounted for 45.6 percent of assets, rising from 39.7 percent in June, according to Pimco’s monthly holdings reports on its website. That’s the highest since June 2014. Total Return, based in Newport Beach, California, is the world’s biggest actively run bond fund, with $86.8 billion in assets Tatton Investment Management CIO Lothar Mentel discusses with Bloomberg's Francine Lacqua on "The Pulse."