LONDON Oct 13 One of the world's biggest bond
funds said on Thursday that a recent rise in UK government bond
yields had probably run its course and that the fund had trimmed
its holdings of gilts.
"It's possible we get a little bit of a further rise in
yields but probably more of it is behind us than ahead of us,"
PIMCO's head of sterling portfolio, Mike Amey, told Reuters on
the sidelines of its investment summit in London.
Amey said he had closed a "long" position in UK government
bonds and any decision to increase holdings again would depend
largely on the government's fiscal policy.
(Reporting by Jamie McGeever; Writing by John Geddie, editing
by Anirban Nag)