I heard but cannot confirm that the Mark to Market rule may be changed to Mark to Model sometime aroung the 14th of this month...this should be a huge help to many financial firms including Pimco in evaluating their holdings..this may be another reason for the strength in PHK these last few days...good luck
Congressional hearing this week on the subject, and from what I read, there will be SOME action on this, although outright suspension is not likely. Having said that, any relaxation of mark-to-market should have a nice positive impact on NAVs. Unfortunately, too late for PHK it looks like, but maybe not for NCV. Works for me as I got out of PHK at a premium and am quite long on NCV. We'll see.