UPDATE 1-Pimco’s Ivascyn says Pimco would consider adding Treasuries on further weakness


(Adds quotes from Ivascyn)

By Jennifer Ablan and Richard Leong

NEW YORK, Jan 10 (Reuters) – Dan Ivascyn, group chief investment officer at Pimco, said on Wednesday that Pacific Investment Management Co would consider adding U.S. Treasuries on further weakness in the bond market.

Ivascyn said shorter-dated U.S. Treasuries are “looking more interesting at these levels” and added that Pimco “prefers (the) front end” of the U.S. Treasury yield curve.

Pimco, a unit of German insurer Allianz SE, oversees more than $1.69 trillion in assets under management, as of Sept. 30, 2017.

On Wednesday, U.S. two-year Treasury yields reached 1.985 percent, the highest level since Sept. 2008, while the 10-year yield touched 2.597 percent, its loftiest level since March, Reuters data showed.

“There’s a lot going on behind the scenes, regarding trade and North Korea,” Ivascyn said. “This is likely a warning shot that can lead to a bit of volatility short term. The U.S. and China trade policy is a legit risk in 2018.”

“With all that said, and similar to our views from a year or so ago, it remains premature to declare beginnings of bear markets,” he added. (Reporting By Jennifer Ablan and Richard Leong; Editing by Susan Thomas)


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