pimco-ceo-finds-asian-bonds-rich

Pimco CEO finds Asian bonds rich

Brian Baker shares his views on the current state of the Asian bond markets and says he prefers local currency issues to dollar-denominated debt.
July 01, 2008
Since Pimco Asia, which is part of Pimco Group, opened its Singapore office in 1996, its business has grown exponentially. Indeed, assets under management have increased to $8.3 billion as of December 31, 2007. Brian Baker, CEO and director, shares his views on AsiaÆs bond markets.

Tell me what you see in the global economy.
We see decoupling between developed and developing economies. Clearly growth in the US is quite slow and growth in Europe is slowing, while growth in Asia has not slowed materially.

What all three regions are grappling with is high inflation, which is detrimental to bond holders. The Federal Reserve has brought rates down to 2%, and we think that is...
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