Pimco's Bill Gross significantly reduced his holdings of mortgage debt last month, while...

|By:, SA News Editor

Pimco's Bill Gross significantly reduced his holdings of mortgage debt last month, while boosting cash and equivalents. The $161B Total Return Fund's stake in mortgage bonds fell to 54% of its assets from 61% in May, the lowest in almost two years. Gov't bonds dipped to 24% from 25%.