Fund That Made Money on Treasuries Says Rally Is About to End

Prudential Plc’s Asian asset management unit, which profited from the rebound in 30-year Treasuries last month, has taken its money off the table with the view the three-week rally in U.S. government debt is coming to an end. Nicholas Ferres, who oversees multi-asset investments at Eastspring Investments in Singapore, unwound his holdings of 30-year bonds Friday and Monday, selling them at yields as low as 2.96 percent, after U.S. jobs and wage data backed the case for faster policy tightening.