MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, August 15, 2013 Pimco Exec Bangs EM Debt Drum Unsurprisingly, the co-head of emerging markets for a huge mutual fund firm thinks investors should definitely buy emerging market debt. Bloomberg's Ye Xie writes that Ramin Toloui, co-head of emerging markets at Pimco [profile] wrote a note suggesting investors buy emerging-market debt because the bond selloff drove up yields. Brazil real-denominated bond yields due in 2023 had a yield increase of 1.57 percentage points over the last three months, Xie writes, bringing the percentage increase to 11.5 percent. Xie quoted Toloui as saying, "In a global environment characterized by continued concerns about growth--even amid firmer economic indicators--policy interest rates in both developed and emerging countries are poised to stay low. With slow economic growth, investors should lessen risk-taking like betting on higher interest rates, Xie quotes Toloui as saying. That sentiment would appear to fall into the category of "no kidding" but Pimco founder Bill Gross has added Treasuries in July while betting incorrectly on TIPS in the first six months of the year. To read more, click here. Printed from: MFWire.com/story.asp?s=45527 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |