BNP Paribas Asset Management is shifting its exposure across U.S. equities away from banks and positioning for a decline in technology stocks, citing concerns over the maturing cycle in the world's largest economy.
Investors dumped U.S. government debt funds during the latest week, Lipper data showed on Thursday, pulling the most cash from those funds since March 2016 and exacerbating a bond selloff that spooked markets.
Jeffrey Gundlach, chief executive of Doubleline Capital, on Thursday said the 30-year U.S. Treasury bond yield has broken above a multiyear base, which should lead to significantly higher yields for financial markets.
Pimco Group Chief Investment Officer Dan Ivascyn, who helps oversee more than $1.71 trillion, said on Thursday that U.S. Treasuries look more attractive because of higher yields but only in the short end of the curve.
Activist investor Daniel Loeb's hedge fund Third Point LLC has demanded access to a trove of records from Campbell Soup Co, ranging from board meeting minutes to financial documents, as it ratchets up a campaign to replace the company's board of directors, according to a letter seen by Reuters.