Dan Ivascyn’s $130 billion Pimco Income Fund lost 1.07% since July 31.
Rates for 30-year mortgages are at their lowest since late 2016, sending many homeowners to their brokers.
An iShares product has been the third-most popular exchange-traded fund this year.
U.S. banks and financial companies are selling fewer new bonds.
Homeowners are sitting on a record amount of equity, but this time they’re stubbornly reluctant to borrow against it.
What mortgage bonds have going for them is that they trade often.
Credit-risk transfer debt is expected to have another good year.
Overall, U.S. households have “very manageable levels” of debt, Moody’s analysts said.
As the Federal Reserve prepares to shed its mortgage bonds, REITs step up to buy.
Some big investors are getting so antsy about corporate junk debt that once-unloved mortgage bonds look safe in comparison.
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