PIMCO-Wow

Posted: July 17, 2008 at 11:59 am by Lisa

PIMCO NOTES IT IS ENTHUSIASTICALLY OVERWEIGHT ON AGENCY MORTGAGE BONDS BY 6%

This came across the wire, and I saw the word "enthusiastically". I’m almost speechless, but let me give this a shot. PIMCO is bragging that they bet on the right side of government intervention and manipulation of Fannie and Freddie? They are proud of this? Have they become the new "pumpers" of the market? Something about this stinks, to me, but I should be careful before they send the SEC after me. (kidding)

Oil prices are dropping, I believe futures expire tomorrow along with equities, so I don’t really read anything fundamental in this move.