Wall Street Circles The Bond Market T-Rex PIMCO

The unseemly spat at PIMCO, in which investing titan Bill Gross quit to avoid the ignominy of being fired, may deliver an unexpected bounty to various Wall Street functionaries. First out of the gates were the short-sellers, sniffing an opportunity to press sales in various products run by Gross when he was at PIMCO. Closed ended mutual funds, large fixed income holdings in the PIMCO Total Return Fund, illiquid or oversized positions in other funds, all attracted selling pressure as bears hoped to make a fast buck in the event of large scale redemptions at the mega-fund manager. Asset managers…