PIMCO doesn't want Uncle Sam's debt, but paper from Mexico and Russia

SYDNEY (Dow Jones)--The Australian unit of Pacific Investment Management Co., the world's largest bond fund, is buying debt from emerging markets such as Russia, Brazil and Mexico and Australia as part of its strategy to counter volatility in global bond markets.

At the core of its outlook are bets on a robust recovery in emerging markets while developed markets enjoy only a tepid growth trend.



Whatever happened to shaking hands with Uncle Sam?

I guess that's what happens when you think the next black swan is hiding at Treasury!