Latest news with #PacificInvestmentManagementCo.
Yahoo
3 days ago
- Business
- Yahoo
Pimco Sees 'Good Opportunity' in Japan Bonds
Andrew Balls, chief investment officer for global fixed income at Pacific Investment Management Co., says long-dated Japanese government bonds are now looking "really interesting." He adds that while it is "not a long-term investment," there is a "good opportunity in the 30-year part of the Japanese curve." Balls speaks to Bloomberg's Francine Lacqua. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
15-05-2025
- Business
- Bloomberg
Allianz Profit Rises to Record as Pimco Adds €26 Billion Inflows
Allianz SE, the German owner of bond firm Pacific Investment Management Co., saw first-quarter profit rise to a record on higher income from its insurance business and inflows in asset management. Group operating profit increased 6.3% to €4.24 billion ($4.75 billion), in line with analysts estimates, Allianz said Thursday. Pimco's third-party clients added €26.2 billion in the three months through March, marking the fifth consecutive quarter of inflows.
Bloomberg
15-04-2025
- Business
- Bloomberg
Pimco Cuts Turkey Bet as Politics Vie With Sky-High Yields
Pacific Investment Management Co. trimmed its holdings of Turkish bonds last month amid the selloff sparked by the arrest of President Recep Tayyip Erdogan's top political opponent. 'We are still positive on Turkey but our position is smaller,' said New York-based Pramol Dhawan, head of emerging-markets team at the $1.95 trillion money manager. The political turmoil was 'destructive for international investor confidence and it's destructive for the local institutions in Turkey.'
Bloomberg
03-04-2025
- Business
- Bloomberg
Bill Gross Warns Dip-Buyers to Stay Out of ‘Epic' Market Turmoil
As spiraling tariff worries hammer US stocks, legendary investor Bill Gross is urging prospective dip-buyers to stay on the sidelines. The co-founder and former chief investment officer of Pacific Investment Management Co. said the selloff — which has dragged the S&P 500 down by more than 4% on Thursday — is a 'deep market event' with little resolution in sight.
Yahoo
17-03-2025
- Business
- Yahoo
Pimco Turns More Negative on German Bonds Ahead of Debt Vote
(Bloomberg) -- Pacific Investment Management Co. is increasingly negative on the outlook for German government bonds as the country edges close to a crucial pivot toward more public spending. ICE Eyes Massive California Tent Facility Amid Space Constraints How Britain's Most Bike-Friendly New Town Got Built The Dark Prophet of Car-Clogged Cities Washington, DC, Region Braces for 'Devastating' Cuts from Congress Saving the Signature Sound of Washington, DC Sachin Gupta, a fund manager at the firm, has added to an underweight position in bunds, pointing to Chancellor-elect Friedrich Merz's efforts to unlock hundreds of billions of euros for investment in defense and infrastructure. The incoming leader last week won key political backing ahead of a vote on the package on Tuesday, which implies it will succeed. 'It is an important development,' said Gupta, a 27-year investing veteran who helps oversee more than $43 billion in assets. 'It is not just about this announcement, it's also about the future possible fiscal action. Market believes, is assigning good probability that it gets passed.' Pimco's view echoes that of BlackRock Inc, which also recently went underweight euro-area fixed income on the outlook for greater bond sales in the region and limited scope for more interest-rate cuts. German bonds sold off sharply this month on the nation's decision to loosen its purse strings after years of fiscal conservatism, causing the yield on benchmark 10-year bonds to surge nearly 50 basis points to touch the highest levels since 2023. The rout spilled over to other euro-area countries, with rates on Italian, French and Spanish notes all spiking. Pimco's Gupta has also gone overall underweight European duration, which is market parlance for interest-rate risk. It remains unclear the extent to which other European nations will follow Germany's lead in spending more, given already-burdensome debt piles. The potential boost to the euro-area economy from increased defense spending has spurred traders to pare bets on interest-rate cuts from the European Central Bank. Swaps point to just under 50 basis points of further easing this year, taking the terminal rate to about 2%. 'We would agree with that,' Gupta said. 'The ECB has time to look at how some of these announcements will affect the data and they may adjust because of that. But I think it's way too premature to think about any sort of hikes.' The yield on 10-year German notes fell six basis points on Monday to 2.82%. UBS Group AG strategists have recommended buying the bonds at around 2.90%. (Updates with BlackRock stance in paragraph four.) Nvidia Looks Past DeepSeek and Tariffs for AI's Next Chapter How America Got Hooked on H Mart How Trump's 'No Tax on Tips' Could Backfire for the Working Class College Presidents on Trump, Tuition and Universities Under Pressure As China's Birth Rate Drops, Pampered Pets Reap the Benefits ©2025 Bloomberg L.P. Sign in to access your portfolio
