Just as striking is the view at the world's biggest bond investment fund, Pimco.
In almost every money market fund prospectus, pension fund investment policy statement and bond mutual fund prospectus in the US they usually treat US Treasurys differently from other bonds.
Pension plans, insurance companies, and your investment grade bond fund have all recently doled out some cash to me.
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Big news this week from behemoth bond fund group Pacific Investment Management Company (PIMCO).
One big winner, however, was bond-fund giant Pacific Investment Management Co.
While there are actively managed ETFs and bond-fund manager Pacific Investment Management, or Pimco, already has plowed the ground in bonds active competition means the ETF landscape is starting to look more like the rest of the fund world.
We also continue to own some traditional bonds funds, such as PIMCO Total Return Fund, in addition to other income-oriented investment vehicles such as the Nuveen High Yield Bond Fund, which yields more than 7%.
While the 15% rate applies to most corporate payouts, that's not the case for most real estate investment trust dividends or for bond fund dividends, which are really interest and are taxed at ordinary income rates of up to 35%.
The government is now looking to capital bond markets and even the European Investment Bank to fund its priority school building programme.
Cash-strapped towns and municipalities in the Gulf Coast region will inevitably turn to the bond market to help fund hurricane recovery efforts--a potential boon to investment banks, unless Congress and the Bush Administration ruin the party, which looks increasingly likely.
To diversify, they go to investment companies who spread that risk out among equity fund managers, emerging market specialists, bond specialists and currency funds.
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Banks' use of the three-year loans also means current holders of bank debt would stand behind the ECB in the line to collect if a borrower collapsed, so "it has become even more expensive for banks to fund in the wholesale bond market, " said Ben Bennett, credit strategist at Legal and General Investment Management.
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