(Bloomberg) -- Treasuries rose for a third day as DoubleLine Capital LP’s Jeffrey Gundlach said yields are poised to fall further and Pacific Investment Management Co.’s Bill Gross cut his holdings of U.S. government-related debt.

Gross, manager of the world’s biggest bond fund, reduced the allocation in his $236 billion Total Return Fund to 43% in February from 46% a month earlier as the Federal Reserve cut its bond-buying program, data on Pimco’s website showed yesterday. Gundlach, the founder of Los Angeles- based DoubleLine Capital, said yesterday on a webcast that 10- year yields will slide to 2.5% this year as the Fed tapers amid a slowing global economy.

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