Bonds

: That didn't quite happen, according to Bloomberg. According to a Bloomberg dive into SEC filings, it seems part of the reason that "fire sale" risk never materialized is because the TRF raised cash partly by selling its bonds to other Pimco funds. As a reminder, when Gross stepped down from the helm of what was once the biggest bond fund in the world, Wall Street expected the TRF would have to sell big swathes of its bond holdings as it sought to raise cash and meet a wave of investor redemptions from the fund. To be exact, it seems Pimco sold about $18 billion of the TRF assets to other Pimco funds and accounts between October and March, helping it meet more than $100 billion of redemptions that followed Gross exit. But it highlights some of the more esoteric things investors in bond funds should know, especially when faced with the prospect of a big sell-off in bonds.1. The move seemed to help avert a fire sale in the bonds, which is a good thing because everyone has been worried about just such an event. (news.financializer.com). As reported in the news.