Jennifer's Feed
Jul 18, 2014

Pimco’s Gross sees 10-year T-yield 2.5-3 percent ‘now and for the next few years’

NEW YORK (Reuters) – Bill Gross, chief investment officer of bond giant Pimco, said on Friday the yield on the benchmark 10-year U.S. Treasury note belongs in the 2.50 to 3 percent range “now and for the next few years” if the Federal Reserve remains accommodative.

“When the Fed begins its upward journey – June 2015 – then it must be cautious and probably needs to stop at 2 percent sometime in 2017 because we have a highly levered economy, structural demographic headwinds which lower real growth and the effect of technology and job displacement,” Gross told Reuters.

Jul 2, 2014

Pimco suffers 14th month of outflows at Total Return Fund

NEW YORK (Reuters) – Bill Gross’ Pimco Total Return Fund, the world’s largest bond fund, posted $4.5 billion in net outflows for June, its 14th straight month of investor withdrawals despite an improving performance, Morningstar data showed on Wednesday.

The fund has had $64.1 billion in outflows since May 2013, the data showed. It had $225 billion in assets at the end of last month, down from a peak of $292.9 billion in April 2013.

Jul 1, 2014

Gundlach’s DoubleLine Funds see fifth straight month of inflows

NEW YORK (Reuters) – Jeffrey Gundlach’s DoubleLine Funds said on Tuesday it had net inflows of $527 million in June with its flagship DoubleLine Total Return Bond Fund DBLTX.O attracting net inflows of $503 million.

The Los Angeles-based DoubleLine said its DoubleLine Total Return Bond Fund has seen net inflows totaling more than $1.5 billion so far this year as of June and more than $2.1 billion of net inflows into DoubleLine open-end funds year-to-date as of last month.

Jun 30, 2014

Paulson’s Credit Opportunities fund up 6.6 percent ytd to end-May: source

NEW YORK (Reuters) – Hedge fund manager John Paulson’s credit opportunities and merger arbitrage funds were up 6.6 percent and 3.3 percent year-to-date through the end of May, respectively, easily surpassing their benchmarks, according to an investor in attendance at Paulson & Co’s recent mid-year client event.

Paulson, who runs more than $21 billion and made headlines last week on news he amassed a large stake in Allergan Inc of more than six million shares and supports a deal between the Botox maker and Valeant Pharmaceuticals Inc, told clients at the recent London event that merger arbitrage spreads are “becoming attractive,” noting Allergan and Mallinkckrodt’s acquisition of Questcor Pharma.

Jun 21, 2014

Analysis – Yellen gives the green light for more stock gains

NEW YORK (Reuters) – Federal Reserve chief Janet Yellen signaled that rational exuberance is just fine.

That, at least, is how some of America’s largest money managers interpreted her comments on Wednesday suggesting interest rates will remain low through 2016.

Jun 20, 2014

Yellen gives the green light for more stock gains

NEW YORK (Reuters) – Federal Reserve chief Janet Yellen signaled that rational exuberance is just fine.

That, at least, is how some of America’s largest money managers interpreted her comments on Wednesday suggesting interest rates will remain low through 2016.

Jun 19, 2014

Omega’s Einhorn says bull market in U.S. equities not over

NEW YORK (Reuters) – Steven Einhorn, vice chairman of hedge fund Omega Advisors Inc, said Thursday that the bull market in U.S. equities was not over and predicted the Standard & Poor’s 500 Index will rise another 3-5 percent by year-end.

In an interview with Reuters, Einhorn, a top executive at Leon Cooperman’s $10.5 billion hedge fund Omega, said Federal Reserve chair Janet Yellen on Wednesday made clear that the U.S. central bank will keep monetary policy “easy for an extended period of time” which is supportive of stock prices.

Jun 16, 2014

Pimco’s Ivascyn sees ‘significant’ opportunity in European bank assets

NEW YORK (Reuters) – The expected unloading of roughly $1 trillion in assets by European banks represents a “significant investment opportunity” in residential and commercial real estate as well as corporate securities, Dan Ivascyn, one of Pimco’s deputy chief investment officers, said on Monday.

Pacific Investment Management Co, which oversees $1.94 trillion in assets under management as of March 31, said European banks entered the financial crisis with materially more leverage than U.S. banks, and economic growth in Europe has lagged the United States.

Jun 12, 2014

Icahn, Mickelson are investigated in US insider trading probe-source

NEW YORK, May 31 (Reuters) – The U.S. Federal Bureau of Investigation and the Securities and Exchange Commission are investigating possible insider trading involving billionaire investor Carl Icahn, golfer Phil Mickelson and Las Vegas gambler William Walters, a source familiar with the matter said.

Federal investigators are looking into whether Mickelson and Walters may have traded illegally on private information provided by Icahn about his investments in public corporations, the source told Reuters, confirming reports on Friday.

Jun 12, 2014

U.S. investigating Icahn, Mickelson in insider trading probe-source

NEW YORK, May 30 (Reuters) – The U.S. Federal Bureau of
Investigation and the Securities and Exchange Commission are
investigating possible insider trading involving billionaire
investor Carl Icahn, golfer Phil Mickelson and Las Vegas gambler
William Walters, a source familiar with the matter said.

Federal investigators are looking into whether Mickelson and
Walters may have traded illegally on private information
provided by Icahn about his investments in public corporations,
the source told Reuters, confirming reports on Friday.