PIMCO: would buy back U.S. Treasuries if they get cheaper

NEW YORK (Reuters) – PIMCO would reconsider buying back U.S. government debt, including Treasuries, if the Newport Beach, Calif. firm sees value in them again, co-chief investment officer Mohamed El-Erian said on Thursday.

El-Erian, who helps oversee $1.1 trillion at PIMCO, the world’s largest bond fund manager, said his firm decided to sell out its position in U.S. Treasuries last month because “there was better value elsewhere.”

“If the valuations of Treasuries get cheaper, we will revisit that” decision, El-Erian said at the Reuters Newsmaker event.

(Reporting by Jennifer Ablan and Walter Brandimarte; Editing by Theodore d’Afflisio)

PIMCO: would buy back U.S. Treasuries if they get cheaper