PIMCO Update (Quick) | January 2024 | Watch The NAV Momentum Turn

Summary

• Not much has changed fundamentally in taxable PIMCOs, but there has been a shift in valuations and sentiment.

• The drop in the dollar has put downward pressure on funds with exposure to foreign bonds and currency forwards contracts.

• Leverage is a key consideration for assessing NAV trends, and some funds have reduced leverage significantly in the pa…