I woke up this morning still wondering about the massive rally in bonds yesterday. Bunds have given back nothing today while 10-year Treasury yields are up 4 bps after falling 10 bps yesterday.
What happened? I think it could be related to PIMCO.
If people were pulling out there money and moving it elsewhere, how does that work? The money is spread out over the universe of bonds on the selling but when it arrives at Doubleline, what do they do with it.
Maybe they dump it into Treasuries and then figure out exactly where to put it later.
