Displaced as manager of world's largest mutual fund, Pimco bets at least $10 billion on U.S. credit-default swaps.
By Mary Childs, Bloomberg|November 08, 2013 at 09:56 AM|Originally published on Treasuryandrisk.Com
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Pacific Investment Management Co. (Pimco) is wagering at least $10 billion in the credit-default swaps market that U.S. corporate bonds will gain as the Federal Reserve extends unprecedented stimulus into 2014, according to traders and investors.