Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:BlackRock and Pimco Part Ways on Europe Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, July 23, 2013

BlackRock and Pimco Part Ways on Europe

News summary by MFWire's editors

Yet again, Pimco [profile] and BlackRock [profile] took opposite investment decisions, with BlackRock embracing European bonds and Pimco cutting holdings of those bonds, The Wall Street Journal reporter Min Zeng reports.

Despite concerns about European governments' stability, BlackRock is adding bonds from Spain and Italy, The Wall Street Journal reports. The story doesn't mention how much BlackRock increased holdings of those bonds. Min Zeng interviewed Rick Reider, chief investment officer of fundamental fixed income and co-head of Americas fixed income.

The global buying spree doesn't end there. Reider told Zeng that BlackRock bought Mexican peso, Brazilian government bonds and corporate bonds below investment grade in the U.S. and in Asia. According to Zeng, Reider said the selloff in global bond markets was "overdone" and that investors should take a more flexible approach in their bond portfolios as interest rates will move higher.

In a separate article, Zeng interviewed Andrew Balls, head of European portfolio management at Pimco, said the firm has cut holdings of bonds in Italy and Spain, noting that the economy is hurting and policymakers there have not made enough headway to signal Europe is on its way to getting back on track. Zeng writes that Pimco had already begin cutting holdings of Spanish and Italian bonds beginning in April. To read more, click here and here.  

Edited by: Casey Quinlan


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use