PIMCO Total Return Fund

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  • uploads///Monthly Net New Cash Flow
    Macroeconomic Analysis

    What Bond Mutual Fund Investors Can Do in a Liquidity Squeeze

    Things look fine for now Previously in this series, we discussed how mutual funds have a notably larger holding of corporate bonds at present than they had before the financial crisis of 2008. We’ve also talked about how regulatory changes could impact the role of banks as market makers. At the same time, the role […]

    By David Ashworth
  • uploads///US Investment Grade Bond Fund Flows
    Macroeconomic Analysis

    Investment-Grade Bond Funds Saw Outflows for Third Week in a Row

    Investment-grade bond issuance fell to $26.275 billion last week as compared to $32.35 billion in the previous week.

    By Lynn Noah
  • uploads///Estimated Economic Growth of the US Economy
    Macroeconomic Analysis

    US Economic Growth Revised Upward, but Will Growth Continue?

    The BEA (U.S. Bureau of Economic Analysis) released the second of three estimates for US economic growth for 4Q15 on February 26, 2016.

    By David Ashworth
  • uploads///Total IG Bond Issuance for August
    Fund Managers

    August 2015’s Top High-Grade Bond Issuers

    US corporates were the highest issuers of high-grade bonds in August 2015, making up 35.4% of all issues. Yankee bond issuers came in second.

    By Lynn Noah
  • uploads///High grade Bond Yields and Price Movement in LQD
    Macroeconomic Analysis

    Why Did Investment-Grade Bond Yields Fall Last Week?

    Movement in investment-grade bond yields was driven by aftershocks following the Brexit vote. Last week, investment-grade bond yields fell.

    By Lynn Noah
  • uploads///Price Movement in the PTTAX and the LQD
    Financials

    Investment-Grade Bond Yields Fell Due to Brexit

    Last week, the movement in investment-grade bond yields was driven by Brexit. Investment-grade bond yields fell for the week ending June 24.

    By Lynn Noah
  • uploads///Movement of Investment Grade Bond Yield and Spread
    Company & Industry Overviews

    High-Grade Bond Yields Rise on Better Odds of a Rate Hike

    Last week, investment-grade bond yields jumped 12 basis points and ended at 3.16%, the highest level since April 5, 2016.

    By Lynn Noah
  • uploads///Price Movement in the PTTAX and the LQD
    Company & Industry Overviews

    Investment-Grade Bond Yields Fell after Yellen’s Hawkish Comments

    Investment-grade bond yields fell slightly for the week ending May 27 after Fed Chair Janet Yellen stated that a rate hike would be appropriate in the coming months.

    By Lynn Noah
  • uploads///Price Movement in the PTTAX and the LQD
    Macroeconomic Analysis

    Investment-Grade Bond Yields Jump on Hawkish FOMC Minutes

    Investment-grade bond yields jumped in the week ending May 20 as the FOMC (Federal Open Market Committee) minutes indicated that the Federal Reserve may go ahead with a rate hike in June.

    By Lynn Noah
  • uploads///Movement of Investment Grade Bonds Yield and Spreads
    Company & Industry Overviews

    High-Grade Bond Yields Continue to Go Downhill

    According to the BofA Merrill Lynch US Corporate Master Effective Yield, high-grade bond yields averaged 3.6% in January 2016.

    By Lynn Noah
  • uploads///Price Movement in the PTTAX and the LQD
    Macroeconomic Analysis

    Why Did Investment-Grade Bond Yields Fall?

    Investment-grade bond yields fell for the week ending May 13 despite upbeat retail sales and consumer confidence data.

    By Lynn Noah
  • uploads///Movement of Investment Grade Bonds Yield and Spreads
    Company & Industry Overviews

    High-Grade Bond Yields, Spreads Fell Last Week

    In April, the downward trend in bond yields continued due to weak corporate results and no strong guidance by the Fed on a rate-hike.

    By Lynn Noah
  • uploads///Price Movement in the PTTAX and the LQD
    Macroeconomic Analysis

    Where Did International Data Point in the Week Ended May 6?

    Weak US jobs data indicated that hiring was slow in April 2016 due to weak economic growth, low productivity, and soft corporate earnings.

    By Lynn Noah
  • uploads///Movement of Investment Grade Bonds Yield and Spreads
    Company & Industry Overviews

    High-Grade Bond Yields and Spreads Fall to Lowest Levels in 2016

    In March, yields fell sharply and averaged 3.44% after the Fed gave a dovish outlook for the next interest rate hike.

    By Lynn Noah
  • uploads///Movement of Investment Grade Bonds Yield and Spreads
    Company & Industry Overviews

    High-Grade Bond Yields Rose, Spreads Were Lowest Year-to-Date

    According to the BofA Merrill Lynch US Corporate Master Effective Yield, in January 2016, yields averaged 3.6%.

    By Lynn Noah
  • uploads///Price Movement in the PTTAX and the LQD
    Company & Industry Overviews

    Investment-Grade Bond Yields Rose amid Oil Rebound, Economic Data

    Investment-grade bond yields rose in the week ended April 22, 2016, following a rebound in oil prices and favorable economic data.

    By Lynn Noah
  • uploads///US Investment Grade Bond Market Issuance
    Company & Industry Overviews

    How Have Investment-Grade Bonds Fared in Quality and Maturity?

    Anheuser-Busch InBev, Apple, ExxonMobil, Berkshire Hathaway, and Newell Rubbermaid were among the biggest issuers of investment-grade bonds in 1Q16.

    By Lynn Noah
  • uploads///PCE
    Company & Industry Overviews

    December 2015 Minutes: PCE Inflation May Impede Future Rate Hikes

    According to the December FOMC minutes, although most participants expect inflation to be in the range of 1.7%–1.8% in 2016, the overall projections range from 1.2% to 2.1%.

    By David Ashworth
  • uploads///Personal Consumption Expenditures Price Inflation
    Macroeconomic Analysis

    The Fed Will Watch Personal Consumption Expenditures Inflation

    The Federal Reserve has a specified numerical mandate for personal consumption expenditures inflation given to it by Congress.

    By David Ashworth
  • uploads///Personal Consumption Expenditures Price Inflation
    Macroeconomic Analysis

    Is PCE Inflation the Last Barrier between the Fed and a Rate Hike?

    The Fed has a specified numerical mandate for PCE inflation given to it by Congress. The central bank is expected to maintain PCE inflation at 2% in the long run.

    By David Ashworth
  • uploads///Total IG Bond Issuance for WE October
    Fund Managers

    EDF SA Issued ~$4.8 Billion in High-Grade Bonds Last Week

    EDF SA is based in France. It produces, markets, and distributes electricity. EDF SA issued A1/A rated high-grade bonds worth ~$4.8 billion in five parts.

    By Lynn Noah
  • uploads///US Investment Grade Bond Market Issuance
    Fund Managers

    Investment-Grade Corporate Bonds Issued in the Week Ended October 9

    Last week, Treasury yields rose in double-digits nearly across the yield curve. Yields on investment-grade corporate bonds also rose for the week ended October 9.

    By Lynn Noah
  • uploads///Personal Consumption Expenditures Price Inflation
    Macroeconomic Analysis

    How Inflation Could Impact Mutual Funds

    When the Federal Reserve refers to inflation, it is talking about the rate of change in PCE inflation (or the price index for personal consumption expenditures).

    By David Ashworth
  • uploads///Total IG Bond Issuance for WE September
    Macroeconomic Analysis

    UBS Group Funding Issues $4.3 Billion Worth of High-Grade Bonds

    UBS Group Funding (Jersey) Limited (UBS), via its subsidiaries, issued BBB+-rated high-grade bonds worth $4.3 billion in three parts during the week ending September 25.

    By Lynn Noah
  • uploads///Total IG Bond Issuance for WE September
    Fund Managers

    Disney Issues $2.0 Billion in High-Grade Bonds Last Week

    US corporates were the biggest issuers of high-grade bonds last week, making up 54.2% of all issues. The Walt Disney Company (DIS) issued A2/A rated high-grade bonds worth $2.0 billion.

    By Lynn Noah
  • uploads///Total IG Bond Issuance for WE August    billion
    Macroeconomic Analysis

    ING Group Issued the Most High-Grade Bonds Last Week

    US financials were the highest issuers of high-grade bonds in the week ended August 14, making up 37.7% of all issuance.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Macroeconomic Analysis

    Investment-Grade Bond Funds Record Back-to-Back Outflows

    Flows into investment-grade bond funds were negative for the week ended August 12—marking the third consecutive week of outflows.

    By Lynn Noah
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