Ten-year Treasury yields rose three basis points, or 0.03 percentage point, to 1.89 percent at 8:02 a.m. in New York, according to Bloomberg Bond Trader prices. The 1.75 percent security due May 2022 fell 1/4, or $2.50 per $1,000 face value, to 98 24/32. The record low yield was 1.67 percent set Sept. 23. The average over the past decade is 3.82 percent.

Fund Performance

The Total Return Fund has handed a 4.9 percent gain to investors this year, beating 99 percent of its peers, according to data compiled by Bloomberg. It is up 6.1 percent over the past 12 months, better than 66 percent of its competitors. Pimco is a unit of the Munich-based insurer Allianz SE.

The U.S. central bank bought $2.3 trillion of bonds in two rounds from December 2008 to June 2011. The Fed is also replacing $400 billion of short-term Treasuries in its holdings with longer-term debt to keep borrowing costs down, under a program scheduled to end next month.

Another set of purchases is "getting closer," Gross said in the Twitter post May 8.

 

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