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TREASURIES-U.S. longer-dated bond prices gain more on PIMCO outflows
October 1, 2014 / 9:19 PM / 3 years ago

TREASURIES-U.S. longer-dated bond prices gain more on PIMCO outflows

NEW YORK, Oct 1 (Reuters) - Prices on longer-dated U.S. Treasuries extended earlier gains in late U.S. trading on Wednesday after Pimco said its flagship fund lost an estimated $23.5 billion in assets in September marked by a heavy single-day outflow on Friday when its former manager left the firm.

On Sunday, the Wall Street Journal reported investors had withdrawn $10 billion from the Pimco Total Return fund since the news of the departure of Bill Gross to rival asset management firm Janus Capital.

U.S. 30-year Treasuries were up 2-9/32 in price for a yield of 3.097 percent, down 11.3 basis points from late on Tuesday.

Benchmark 10-year Treasuries were up 1-2/32 in price to yield 2.384 percent, down 11.9 basis points from late Tuesday.

The 10-year yield was on track for its largest single-day decline since September 2013 and the 30-year yield headed toward its biggest one-day drop since April 2013, according to Reuters data. (Reporting by Richard Leong; Editing by James Dalgleish)

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