"Obviously in hindsight it¿s a bit of a mistake. Treasuries makes up roughly a quarter of the US bond market so saying we¿re going to completely abandon them in a fund as large as the one Bill Gross runs is a huge bet and it¿s a huge bullish bet on the credit markets, it¿s a huge bearish bet on government bonds. Now clearly that hasn¿t come true but economic conditions have deteriorated far quicker than either we or Pimco could have anticipated. And the Federal Reserve has made this additional commitment in the last couple of weeks. It has really supported the government bond market and that¿s to detriment of many other asset classes in the fixed income universe"¿ Guy Lebas, chief fixed income strategist at Janney Montgomery Scott

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Is the Deficit Being Cut Too Fast? Fri 17 May 13 \| 07:53 PM	Bad Week for Obama Fri 17 May 13 \| 07:42 PM	Tim Cook Says Corporate Taxes Too High Fri 17 May 13 \| 07:30 PM	Who Really Wins In Powerball? Fri 17 May 13 \| 07:26 PM	Are Investors All-In on the Rally? Fri 17 May 13 \| 07:15 PM
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Is the Deficit Being Cut Too Fast? Fri 17 May 13 \| 07:53 PM	Bad Week for Obama Fri 17 May 13 \| 07:42 PM	Tim Cook Says Corporate Taxes Too High Fri 17 May 13 \| 07:30 PM	Who Really Wins In Powerball? Fri 17 May 13 \| 07:26 PM	Are Investors All-In on the Rally? Fri 17 May 13 \| 07:15 PM
The IRS Takes a Grilling Fri 17 May 13 \| 07:00 PM	Cramer's Final Thoughts Fri 17 May 13 \| 06:59 PM	No Huddle Offense Fri 17 May 13 \| 06:53 PM	Mad Tweets Fri 17 May 13 \| 06:48 PM	Lightning Round Fri 17 May 13 \| 06:40 PM
Companies That Shine After Spinoffs Fri 17 May 13 \| 06:29 PM	Bargain in a Roaring Market Fri 17 May 13 \| 06:15 PM	The Week Ahead: Next-Gen Xbox Fri 17 May 13 \| 06:02 PM	Mad Money: Cramer's Gameplan Fri 17 May 13 \| 06:00 PM	Mad Money, May 17, 2013 Fri 17 May 13 \| 06:00 PM
Press Your Gold Shorts Fri 17 May 13 \| 05:53 PM	Options Action, May 17, 2013 Fri 17 May 13 \| 05:53 PM	Hollywood Starlet Makes Options Trade Fri 17 May 13 \| 05:46 PM	Late-Stage Rally Plays Fri 17 May 13 \| 05:35 PM	Tesla Shares Go Into Overdrive Fri 17 May 13 \| 05:30 PM
Fast Money Final Trade Fri 17 May 13 \| 05:28 PM	Date, Dump or Marry Facebook Fri 17 May 13 \| 05:23 PM	Fast Money's 'Best of the Week' Fri 17 May 13 \| 05:20 PM	Stock Pops & Drops Fri 17 May 13 \| 05:19 PM	Disruptors Shaking Up the Energy Industry Fri 17 May 13 \| 05:14 PM
How Gold's Plunge Pressures Miners: CIO Fri 17 May 13 \| 05:06 PM	Stocks Surge on Strong US Dollar: Pro Fri 17 May 13 \| 05:01 PM	Gold's Worst Week in More Than 4 Years Fri 17 May 13 \| 05:00 PM	Maria's Market Insight Fri 17 May 13 \| 04:59 PM	Jennifer Aniston: From 'Friend' to Entrepreneur Fri 17 May 13 \| 04:55 PM

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Not Even Pimco Could Have Foreseen Economic Downturn

Not Even Pimco Could Have Foreseen Economic Downturn

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