Treasuries seen benefiting from yuan devaluation

New York

TREASURIES have a lot of things going for them.

Bill Gross, a portfolio investor with Denver-based Janus Capital Group Inc and the former manager of the Pimco Total Return Fund, says a weakening Chinese yuan will bring slower inflation worldwide. Investors are reducing bets for the Federal Reserve to raise interest rates at its September meeting as China struggles to spur growth in the world's second largest economy. And the nation's move to devalue its currency is also fuelling demand for dollar-denominated assets.