Pimco's McCulley Says `Conundrum' to Unwind as Central Banks Diversify

(Bloomberg) -- Yields on longer-maturity Treasuries
are likely to climb as foreign central banks diversify their
holdings, said Paul McCulley, a bond fund manager at Pacific
Investment Management Co.

``The bond community is recognizing in the years ahead the
conundrum is going to be reversed as foreign central banks moved
out the risk spectrum,'' McCulley said in an interview from
Newport Beach, California.


Read more at Bloomberg Bonds News