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Rating:Pimco's Rodosky Favors Gov't Wraps Over Governments Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 21, 2008

Pimco's Rodosky Favors Gov't Wraps Over Governments

by: Sean Hanna, Editor in Chief

Pimco generates media heat -- and ink -- from the credit freeze as it gains kind coverage in the WSJ Fund Track. Min Zeng writes that Pimco's Steve Rodosky and the Total Return Fund upped its bet on mortgage-backed securities to 79 percent of the fund in September from 69 percent in August. That increase in MBS comes at the expense of U.S. Treasuries. Rodosky, Pimco's head of Treasury and derivatives trading, told the paper that Pimco is "going to stick with what we know which is GSE mortgage-backed and GSE debenture papers." He added that Pimco remains ""underweight Treasurys" and that "We are more interested in high quality spread paper." 

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