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Bond market veteran is getting worried
Dan Fuss hasn’t been shy about playing in the riskier corners of the bond market during his 50 plus years in finance. But he’s becoming increasingly cautious this year, reflecting growing concerns about the state of the credit markets. Fuss’s flagship Loomis Sayles Bond Fund LSBRX -0.06% LSBDX -0.06% has put 27% of its $24.4 billion in assets under management in cash and reserves, such as short-term Treasurys, he said in an interview with MarketWatch this week. He joins a number of other big bond managers who have been prioritizing liquid holdings . That decision reflects a mix of caution about geopolitical ... (full story)