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By Michael Mackenzie in New York
Published: March 11 2011 18:34 | Last updated: March 11 2011 18:34
At the end of June, the Federal Reserve will no longer be the biggest buyer of US Treasuries. But one notable investor has already said Hasta la vista.
Pimco's flagship $237bn total return fund, managed by Bill Gross, whose status as bond king has been synonymous with the 25-year bull market in Treasury debt, pulled the plug on holding US government related securities in February, it emerged this week. Last month his fund eschewed holding US government related debt, having had 12 per cent of the fund's portfolio in Treasuries in January.
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