New York
PACIFIC Investment Management Co's Total Return Fund, the world's biggest actively run debt fund, is trimming its bet on bonds.
Total Return cut the duration of its holdings to 5.27 years as of Aug 31 from 5.44 years at the end of July, based on data on the company website. It was the lowest level since May. It also reduced its holdings of US government and related securities last month.
US 10-year yields rose on Monday to the highest since June on speculation the Federal Reserve will raise...
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