PTY - PTY: Buy PIMCO's Flagship CEF While Rates Stay High
2024-01-31 11:18:10 ET
Summary
- Speculation over interest rate movements continues to drive price action in equity and credit markets.
- The PIMCO Corporate and Income Opportunity Fund is a high-yielding closed-end fund with a strong track record.
- PTY's portfolio leads the PIMCO closed end fund lineup over the past twelve months.
Interest rate movements remain one of the most significant current economic determinants. Speculation over movements in interest rates, up or down, continues to drive price action in both equity and credit markets. Anticipation that the Federal Reserve will lower interest rates in the next year paired with positive economic data has driven a strong rally in the equity markets. Despite rates remaining high, the S&P 500 and other major indices continue to reach new highs propelled by favorable speculation around economic growth. However, other investments have not experienced the same boon as interest rates continue to tie credit and fixed income investments to the reality that is the 10-year treasury yield....
PTY: Buy PIMCO's Flagship CEF While Rates Stay High