Goldman strategists think this time the sell-off in bonds is “for real,” and rates should continue heading higher from here.
This afternoon, bonds have extended their earlier losses, and the 10-year Treasury is now yielding 2.15%.
Closed-end bond funds traded on exchanges are taking a big hit today.
Perhaps the most notable is PIMCO’s Dynamic Income fund, which is down 4.3%.
However, bond funds across the spectrum of PIMCO offerings are under fire.
In a recent tweet, PIMCO fund manager Bill Gross said, “The secular 30-yr bull market in bonds likely ended 4/29/2013. PIMCO can help you navigate a likely lower return 2 – 3% future.”
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