The “bond kings” prefer EM junk bonds over US peers… but, isn’t it also true that “shorting” Pimco’s ideas in 2011 would have made you a lot of money?
After all, they were anything but right in 2011. Anyway…
According to Pimco, bonds sold by non-investment-gradecompanies in emerging markets are more attractive than debt fromjunk-rated U.S. peers because the developing-nation borrowersare better prepared to withstand a global economic slowdown.
Source: Bloomberg
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Another blonder of this guy. This is a reason for me to do the opposite. I still have a good memory of his past predictions ….
ELE DEVERIA VER OS "CARNES DE PRESTACAO" DA BRASILEIRADA ENDIVIDADA. MESMA SITUACAO COM AS EMPRESAS.