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El-Erian Says Be Wary of Steepening Yield Curve

"Long-end exposed to a lot more risk," Pimco's El-Erian says

By John Detrixhe and Tom Keene | Updated on August 09, 2012

Aug. 9 (Bloomberg) — Investors should be wary of a steepening yield curve in the U.S. Treasury market, according to Pacific Investment Management Co.’s Mohamed El-Erian.

While yields on government securities due in eight years and less are anchored by Federal Reserve monetary policy, bond buyers should be wary of longer-maturity debt, El-Erian, the chief executive officer of the world’s largest manager of bond funds, said in a “Bloomberg Surveillance” radio interview with Tom Keene and Ken Prewitt.

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