Concerned about low yields/high prices, Pimco's Mark Kiesel began slashing exposure to the...

|By:, SA News Editor

Concerned about low yields/high prices, Pimco's Mark Kiesel began slashing exposure to the white-hot junk bond market several weeks ago. With the cash, he's finding value in paper poised to benefit from a housing recovery such as the debt of building material suppliers and MBS (which also might benefit from QE3)