Wall Street Manna

An irreverent look at Wall Street

Monday, May 24, 2010

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!


At May 24, 2010 at 10:48 AM , Anonymous Dubai said...

These guys are getting it wrong.
All wrong.
Brazil? Russia? Mexico?
Our next crisis will be BECAUSE of PIMCO's "malinvestments"!
Mohamed is so sure of everything whenever her speaks. I like the way the previous head of PIMPO has subtly moved behind the scenese. So we already know who the scapgoat's gonna be...

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