RCS - April PIMCO Update: Warp Speed

• We take a look at PIMCO CEF leverage and coverage numbers from April.
• Taxable funds saw strong growth in leverage, though it's not clear exactly why as underlying credit valuations remain historically expensive.
• We continue to like PDO due to its more attractive valuation with the term structure providing a stronger valuation anchor in case of a sell-off.

For further details see: