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The Latest Breaking News from Pimco

US Government Debt Trajectory To Push Long-Term Yields Higher

PIMCO predicts US government debt will drive up long-term yields, impacting interest rates and the economy.

Top News

UK economy at risk of ‘hard landing’; MPs quiz Asda co-owner – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

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Top economist Mohammed El-Erian warns markets got ‘drunk on support’ from central bank ‘BFFs’, and now he’s more comfortable keeping his fortune in cash

Mohammed El-Erian, chief economic adviser at Allianz and former Pimco CEO, says the Fed and Bank of England's high rates bodes well for savers.

Fortune

Goldman Sachs sale of Greensky heads to finish

Second round bids for GreenSky were due earlier this month, according to four banking and private equity sources

Fortune

Weaker competition blamed for higher petrol and diesel prices; MPs blast ‘measly’ savings rates – as it happened

Government pledges to expose ‘rip-off’ fuel retailers, after inquiry finds declining competition between retailers led to higher prices at the pumps

The Guardian - UK

Massive money manager Pimco likens passing a debt ceiling deal to passing a kidney stone: ‘We are in the painful period right now’

“We know it will pass, it is just a question of how painful it will be,” Pimco’s Libby Cantrill wrote Wednesday.

Fortune

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Adani group officials met Pimco, BlackRock for potential private bond placement

MUMBAI: Adani group executives met US investors, including from BlackRock Inc, Blackstone Inc and Pacific Investment Management Co, as part of its plans to market privately placed bonds for some of its group companies, according to people familiar with the matter.

The Times of India

Time to Consider Foreign Bonds

In 2023, foreign bonds deserve a place on the fringes of a total-return-oriented fixed-income portfolio.

Kiplinger

Shareholders won in UBS's Credit Suisse takeover -but this investment manager lost $340m

PIMCO's exposure now runs into the billions, a source familiar with the matter said.

Fortune

Elon Musk’s Twitter hasn’t been paying its rent. Now one of its landlords has defaulted on its loans

The entrepreneur’s behavior is indicative of broader signs of stress in the commercial real estate market and led in part to Pimco’s Columbia Property Trust defaulting on $1.7 billion in loans.

Fortune

Bond King Bill Gross says the Fed has already reached optimal level of interest rates

The man who revolutionized the bond market says the Fed should pay more attention to the mountains of debt circulating in the U.S.

Fortune

Top economist Mohamed El-Erian says we’re not just headed for another recession, but a ‘profound economic and financial shift’

The former CEO of PIMCO sees three trends that suggest a transformation in the global economy is under way.

Fortune

PIMCO Portfolio Manager Thinks It's Time To Trade The Bear Rally, Reset Short Positions

The word on the street was the market had entered into a bear market rally, as Morgan Stanley (NYSE: MS) equity strategist Michael Wilson forecasted a price target for the S&P 500 of 4,000 and it

Benzinga

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Benzinga

Bill Gross Has A Problem With Today's 'Total Return' Bond Funds: 'They Should All Change Their Names'

Former "Bond King" Bill Gross, who popularized the “Total Return” strategy in the 1980s, has criticized current proponents of that approach, saying almost all such funds have become quasi “index funds” in the last five years.

Financial Times

How Wall Street stormed the music business

Investors poured billions into buying rights, turning pop songs into a new asset class — but then the economy stalled

Tribune News Service

Pimco, Capital Group say low-inflation era is gone for good

Some of the world’s biggest bond investors say the market is wrong to expect central banks to score a long-term win in the war against inflation.

Kiplinger

Best Bond Funds to Buy

The best bond funds provide income and stability for investors and are worthy additions to any well-balanced portfolio.

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news in one place.

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Benzinga

German Insurer Allianz Agrees To $6B Fraud Settlement With US Authorities

German insurer Allianz SE (OTC:ALIZY) has agreed to a $6 billion settlement with U.S. authorities, the Financial Times reports. Allianz's investment arm will plead guilty to securities fraud after a scandal at its funds business left investors nursing billions of dollars worth of losses. The victims included teachers, clergy, bus drivers, and engineers,…

StockNews.com

How the Inverted Yield Curve Could Impact the Market This Week

In last week's commentary we spoke about the big bounce of the S&P 500 (SPY) that got us back in the mix of all the key trend lines (50/100/200 day moving averages). And likely we would be stuck in a trading range around those levels for a while as investors…

StockNews.com

Bear Market Warning? The Inverted Yield Curve

Few things scare investors more than the specter of an inverted yield curve as it so frequently points to a forthcoming recession and bear market. And yes, the average bear market in history has led to a 34% drop in the S&P 500 (SPY). That’s why it pays to review…

Benzinga

Farfetch Agrees To Make ~$200M Investment In Neiman Marcus Group

Farfetch Ltd (NYSE:FTCH) has entered into a partnership and investment agreement with the luxury retailer Neiman Marcus Group (NMG). NMG is the parent of brands including Neiman Marcus and Bergdorf Goodman. The partnership will initially focus on re-platforming the Bergdorf Goodman website and mobile application to expand its global capabilities and services. Farfetch will also make a…

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