Yield Hunting

Yield Hunting

Share this post

Yield Hunting
Yield Hunting
PIMCO May 2021 Update | The Bottom Falls Out
Copy link
Facebook
Email
Notes
More

PIMCO May 2021 Update | The Bottom Falls Out

Yield Hunting's avatar
Yield Hunting
Jun 22, 2021
∙ Paid

Share this post

Yield Hunting
Yield Hunting
PIMCO May 2021 Update | The Bottom Falls Out
Copy link
Facebook
Email
Notes
More
Share

Summary

  • Not much has changed in the last month since our April update except that coverage ratios plummeted during the month.  A lot of that is due to currency moves.

  • The dollar fell significantly against the euro and the pound- also the fund closing out currency loss positions that are an immediate hit to NII "income."

  • We do NOT think the lower coverage r…

Keep reading with a 7-day free trial

Subscribe to Yield Hunting to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Yield Hunting
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share

Copy link
Facebook
Email
Notes
More