Please remember the Fed will keep rates low for a very long time as the 17T debt will balloon if they go up.. Gross says he still likes 5&10 year notes. I am retired and in for the long haul.
Gross can like 5&10 year notes all he wants. But he was wrong before in 2011 when he sold them and missed a huge run-up, causing $5 billion dollars to be pulled from PTTRX as people realized that he's not an oracle. He is in fact fallible, has been wrong before, and is obvious wrong today. He increased treasury holdings to 39% this year, and as a result PTTRX has "declined 1.9% this month and puts it behind 94% of similarly managed funds through May 30". http://www.bloomberg.com/news/2013-05-31/gross-s-pimco-total-return-fund-falls-1-9-in-may.html?cmpid=yhoo
I'm just hoping that PTTRX will stabilize by the end of the year and stop this precipitous fall.