PIMCO Update July 2022 | Valuations Move Higher But NAVs Start Rolling Over

Aug 26, 2022

∙ Paid

Summary

Coverage for all funds weakened but that was to be expected as the taxable funds saw leverage come down.
The funds reduced borrowing as they were flying dangerously close to the sun but they were able to do so at an opportune time and it likely turned out well.
The valuations of the funds look a bit rich here as they appear to be pricing in a soft …