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The king of bonds Bill Gross just dumped all of his U.S. government bond holdings that were owned by his Total Return Fund (PTTRX). In the month of January the fund owned $28.6 billion in U.S. government bonds, but its holdings are now down to zero. Gross also reduced the fund’s holdings of mortgage backed securities to 34% from 42% of its total assets. The fund’s cash holdings have surged from $11.9 billion to $54.5 billion.
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