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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