ZeroHedge: Bill Gross Has Sold All Of PIMCO's Treasury Holdings

ZeroHedge is reporting that PIMCO, the world's largest fixed income manager, has divested of its Treasury holdings. The firm has moved largely to cash, with its balance going from $11.9 billion to $54.5 billion. According to ZeroHedge, this is the most cash that the flagship PIMCO fund has ever held and the lowest amount in Treasury holdings since January 2009.

The implication of this is that Bill Gross now believes that there will be no QE3 and that "if Bill Gross, the most connected person to the upcoming actions by the Fed, believes there is no more quantitative easing, it is really time to get the hell out of dodge in all security classes - bonds, and most certainly, equities."