Re: Bond fund trends

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Posted by catch22 on November 06, 2009 at 10:19:17:

In Reply to: Bond fund trends posted by Fundmentals on November 06, 2009 at 10:08:43:

Howdy Fundmentals,

These are our 7 out of 22 funds that are
positive for last 2 wks per recent posted
question.

Fid total bd, FTBFX = +.1%
Fid Inv Grd FBNDX = +.1
Fid Inter Bd FTHRX = +.3
Fid TIPS FINPX = +1.2
Amer Cent TIPS APOIX = +1.3
Pimco Total PTTRX = +.1
Pimco Foreign Debt,
unhedged PFUAX = +.4

Our HY/HI funds are down .1-.3%,
as with most of the other bond funds.

catch22

: Just personal observation from my tracking, not a recommendation for what you should necessarily do. I do incremental adjustments not all-in and all-out trades. These are based on volatility-adjusted returns, not absolute returns. All bond funds have cycles.

: Floating rate bank loan funds have completely lost momentum and trending down. I started selling last week and sold more this week. Underweighted at this point.

: Emerging market bonds headed down earlier but stabilized a bit but are no longer overperforming like they have done recently. Sold significantly last week as it was my overweighted category and holding rest for now at fully weighted.

: Short term investment grade including Treasuries are holding up very well and are kept slightly overweighted in the portfolio.

: GNMAs have come up very strongly. Increasing allocation to it from my previously underweight position.

: TIPS are also showing strength. Increasing my allocation from previously underweight position.

: Intermediate investment grade including Treasuries are losing momentum and are no longer justifying the risk. Sold a bit last week, holding for now. Underweighted now.

: High-yield debt is a mixed picture. Longer effective duration and lowest quality funds have lost a bit of momentum but have stabilized. Smaller duration and better than the junkiest funds are returning better for the risk but still a hold here at a fully weighted allocation.

: Munis are losing momentum slowly. Have been selling a bit at a time from being overweighted (in my taxable portfolio). Still fully weighted at the moment.

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Comments: : Howdy Fundmentals, : These are our 7 out of 22 funds that are : positive for last 2 wks per recent posted : question. : Fid total bd, FTBFX = +.1% : Fid Inv Grd FBNDX = +.1 : Fid Inter Bd FTHRX = +.3 : Fid TIPS FINPX = +1.2 : Amer Cent TIPS APOIX = +1.3 : Pimco Total PTTRX = +.1 : Pimco Foreign Debt, : unhedged PFUAX = +.4 : Our HY/HI funds are down .1-.3%, : as with most of the other bond funds. : catch22 : : : Just personal observation from my tracking, not a recommendation for what you should necessarily do. I do incremental adjustments not all-in and all-out trades. These are based on volatility-adjusted returns, not absolute returns. All bond funds have cycles. : : Floating rate bank loan funds have completely lost momentum and trending down. I started selling last week and sold more this week. Underweighted at this point. : : Emerging market bonds headed down earlier but stabilized a bit but are no longer overperforming like they have done recently. Sold significantly last week as it was my overweighted category and holding rest for now at fully weighted. : : Short term investment grade including Treasuries are holding up very well and are kept slightly overweighted in the portfolio. : : GNMAs have come up very strongly. Increasing allocation to it from my previously underweight position. : : TIPS are also showing strength. Increasing my allocation from previously underweight position. : : Intermediate investment grade including Treasuries are losing momentum and are no longer justifying the risk. Sold a bit last week, holding for now. Underweighted now. : : High-yield debt is a mixed picture. Longer effective duration and lowest quality funds have lost a bit of momentum but have stabilized. Smaller duration and better than the junkiest funds are returning better for the risk but still a hold here at a fully weighted allocation. : : Munis are losing momentum slowly. Have been selling a bit at a time from being overweighted (in my taxable portfolio). Still fully weighted at the moment.

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Comments:	: Howdy Fundmentals, : These are our 7 out of 22 funds that are : positive for last 2 wks per recent posted : question. : Fid total bd, FTBFX = +.1% : Fid Inv Grd FBNDX = +.1 : Fid Inter Bd FTHRX = +.3 : Fid TIPS FINPX = +1.2 : Amer Cent TIPS APOIX = +1.3 : Pimco Total PTTRX = +.1 : Pimco Foreign Debt, : unhedged PFUAX = +.4 : Our HY/HI funds are down .1-.3%, : as with most of the other bond funds. : catch22 : : : Just personal observation from my tracking, not a recommendation for what you should necessarily do. I do incremental adjustments not all-in and all-out trades. These are based on volatility-adjusted returns, not absolute returns. All bond funds have cycles. : : Floating rate bank loan funds have completely lost momentum and trending down. I started selling last week and sold more this week. Underweighted at this point. : : Emerging market bonds headed down earlier but stabilized a bit but are no longer overperforming like they have done recently. Sold significantly last week as it was my overweighted category and holding rest for now at fully weighted. : : Short term investment grade including Treasuries are holding up very well and are kept slightly overweighted in the portfolio. : : GNMAs have come up very strongly. Increasing allocation to it from my previously underweight position. : : TIPS are also showing strength. Increasing my allocation from previously underweight position. : : Intermediate investment grade including Treasuries are losing momentum and are no longer justifying the risk. Sold a bit last week, holding for now. Underweighted now. : : High-yield debt is a mixed picture. Longer effective duration and lowest quality funds have lost a bit of momentum but have stabilized. Smaller duration and better than the junkiest funds are returning better for the risk but still a hold here at a fully weighted allocation. : : Munis are losing momentum slowly. Have been selling a bit at a time from being overweighted (in my taxable portfolio). Still fully weighted at the moment.
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