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

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…