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by ZH
The overnight news of worries over Dexia’s bailout deal and the weak Chinese PMI print did nothing to help the generally poor sentiment as the US closed on the stress test news. Equity and Treasury Futures (as cash was closed in Tokyo) were in risk off mode but stabilized with ES around 1170 (-1% from US close). With Europe opening and TSYs trading once again, CONTEXT shows that the [...]
By Jack Barnes, Contributing Writer, Money Morning
Someone dropped a bomb on the bond market Thursday – a $1 billion Armageddon trade betting the United States will lose its AAA credit rating.
In one moment, an invisible trader placed a single trade that moved the most liquid debt market in the world.
The massive trade wasn’t placed in bonds themselves; it was placed in the futures market.
The [...]
(Reuters) – PIMCO’s Bill Gross, the manager of the world’s largest bond fund, raised his bet against U.S. government-related debt in April to 4 percent from 3 percent, according to the company’s website on Monday.
The increase, albeit small, follows Gross’ move to ratchet up his bearishness in March by taking his initial short position in U.S. government-related debt, which includes Treasuries, TIPS, agencies, interest rate swaps, Treasury futures and options [...]
(Reuters) – Bill Gross, the manager of PIMCO, the world’s largest bond fund, raised his bet against U.S. government-related debt in April to 4 percent from 3 percent, according to the fund’s website on Monday.
The increase, albeit small, follows Gross’s move to ratchet up bearishness in March by taking his initial short position in U.S. government-related debt, which includes Treasuries, TIPS, agencies, interest rate swaps, Treasury futures and options and [...]
From Reuters:
PIMCO’s Total Return Fund, the world’s biggest bond fund, has dumped all U.S. government-related securities, including Treasuries and agency debt, a source familiar with the fund’s holdings said on Wednesday.
In January, Pacific Investment Management Co.’s $236.9 billion Total Return fund slashed its U.S. government-related debt holdings to the lowest level in at least two years and increased cash and debt holdings from other developed [...]
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