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PIMCO Update February '22 | PDO Moves Into Strong Buy Territory (Back Up The Truck!)
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PIMCO Update February '22 | PDO Moves Into Strong Buy Territory (Back Up The Truck!)

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Yield Hunting
Feb 19, 2022
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PIMCO Update February '22 | PDO Moves Into Strong Buy Territory (Back Up The Truck!)
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Summary

  • Coverage ratios and UNII levels for most of the taxable PIMCO funds look very compelling here.

  • NAVs remain weak and leverage is in the middle of their range for the last several years.

  • If NAVs can stabilize, we think the current valuations are EXTREMELY ATTRACTIVE and could be bought.

  • PDI at a 2.5% premium is cheap but PDO at a -7.5% discount is ext…

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