Pimco’s Gross raises government holdings

Bill Gross boosted holdings of high-grade US government bonds and mortgage-backed securities last month

Bill Gross boosted holdings of high-grade US government bonds and mortgage-backed securities last month for Pacific Investment Management Co.’s Total Return Fund as a flight for safety fuelled a strong price rally in the debt securities.

Gross raised US government-related holdings to 46% at the end of last month compared to 45% at the end of December, according to data released Tuesday afternoon on Pimco's website.

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