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Prices at the Pumps - May 8, 2024 #saltwire #pricesatthepumps #gaspricesNEW YORK - U.S. bond giant PIMCO said on Wednesday it is increasing its bond exposure in developed markets outside the United States as inflation could complicate the shift of the Federal Reserve to lower interest rates.
"In fixed income markets, we're adding to our investments in select countries outside the U.S. where easier monetary policy this year is likely to boost bonds," they said. Even though Treasuries have rallied this month, benchmark 10-year yields are still up over 60 basis points since the beginning of the year. Bets on the path of the Fed's policy rate in futures markets have gone from pricing in over 150 basis points of cuts in early January to cuts of 44 basis points as of Wednesday.
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