Better late than never...

...The men of Newport pull a neck-breaking about-face. Recall the positions from earlier this year (emphasized here of course)

Bill Gross, who runs the world’s biggest bond mutual fund at Pacific Investment Management Co., increased his holdings of Treasuries and mortgage debt amid a bet U.S. interest rates will stay low for years.
Government and Treasury debt as a percentage of the $241 billion Total Return Fund (PTTRX) climbed to 23 percent from 19 percent the previous month, according to data posted on Newport Beach, California-based Pimco’s website today. Mortgage securities, the fund’s largest holdings, were increased to 43 percent from 38 percent in October. Pimco doesn’t comment on portfolio changes.
Gross eliminated Treasuries from the portfolio in February and has increased the holdings amount since then. U.S. growth won’t prevent the Federal Reserve from signaling that borrowing rates will remain lower longer than policy makers have already indicated, Gross said during a Dec. 2 Bloomberg radio interview after a report showed the jobless rate declined in November. Gross said the Fed will keep the target rate close to zero for as long as four years.