“It's a very large source of demand” from the pension funds, said Jeffrey Gundlach, chief executive officer of DoubleLine Capital LP.
Elimination of the tax break is unlikely amid Washington political divide.
Central bank "wants to be out" of the bond-buying business but still won't raise rates, according to Pimco's Gross.
Today's Breakfast with Benjamin includes: Goldman's stock market call, a closer look at Fed policy, lawyers pick apart Volcker rule, retailers and cyber security, combining IRAs, and how not to ignore your client's wife.
Breakfast with (<i>InvestmentNews</i> senior columnist Jeff) Benjamin: Going back to basics with bond funds; breaking down the jobs report; Wall Street confronts a big mortgage settlement; Chinese exports falter; the polar vortex and natural gas prices; and retailers' bad holiday season.
Breakfast with Benjamin: Did the Fed make the right move with tapering? We'll know this week. Plus: Hot stocks for cold weather, missing out on the market, consumer sentiment looks bright, office vacancy rates still hurting, and the minimum wage debate.
In speech to fellow economists, Fed chief reflects on eight-year tenure.
<i>Breakfast with Benjamin:</i> Janet Yellen takes the helm (and the heat). Plus, data breach at Barclays, Pimco's guide to reducing volatility, investing when you're really scared, and investing when you're in love.
Dan Fuss, whose Loomis Sayles Bond Fund is trouncing almost all of its peers, says he's preparing for rising rates and focusing on 'improving credits' by cutting his long-term debt position. He's on the same page as another big bond manager.
In today's Breakfast with Benjamin: Two big investment houses recommend exiting emerging markets. Also: Credit Suisse offloads risky assets, investment gurus get nervous about 2014, cold weather and a weak economy, and what will cost more this year.
Goldman Sachs Asset Management is giving its fixed-income alternatives fund lineup a boost by converting its nontraded Credit Strategies Fund into a new liquid-alternatives-bond fund. Goldman plans to fold the $448 million fund, which offers only limited, quarterly share repurchases, into the yet-to-be launched open-end Goldman Sachs Long Short Credit Strategies Fund, pending shareholder approval, according to a filing with the Securities and Exchange Commission.
The search for new portfolio ballast
Pimco's co-CIO says central banks pushing investors to riskier assets but that policy has limits.
Neuberger is cautious for the near term but says sector could shine down the road
Exchange-traded and mutual funds investing in stocks took in about $162 billion this year, the most since 2000, as the S&P 500 surged 29%.
Investors placing bets on whether central bank will boost tapering.
Municipal debt tied to real-estate development is set to be the best-performing part of the $3.7 trillion state and local-bond market this year.
All the negative news has created a massive buying opportunity.
A top investment strategist seeks to answer questions on inflation, deflation, valuation and portfolio building.
