Sep 10, 2026 – 8.07amWhen Dan Ivascyn assumed the throne at bond giant PIMCO back in 2014, replacing Bill Gross, the internal politics of the near $US2 trillion ($2.8 trillion) giant was the subject of endless media fascination.But 12-years after the departure of Gross, the bond king, PIMCO appears to be a far less interesting place. The same cannot be said of the bond market in which it operates. Yields have drifted up to multi-decade highs as fears of unsustainable deficits have spooked investors.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles