Pimco's Mohamed El-Erian sees a "low probability" of QE3 unless a "major further deterioration"...

|By:, SA News Editor

Pimco's Mohamed El-Erian sees a "low probability" of QE3 unless a "major further deterioration" occurs in the U.S. economic outlook. A cut to the U.S. credit rating would be disruptive to a "global economy that is constructed with the U.S. at its core," he worries, and trigger a simultaneous selloff in equities, bonds and currencies.