Pimco fades the headlines, taking advantage of recent rallies in Spanish and Italian debt to...


Pimco fades the headlines, taking advantage of recent rallies in Spanish and Italian debt to lighten up on its holdings, according to Andrew Balls, its head of European portfolio management. Pimco was a buyer last summer after the Draghi "whatever it takes" pledge, but the "central bank-inspired rally has made markets more expensive," says Balls.
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