Bloomberg News

Pimco Says Emerging Markets De-Leveraging in Switch to U.S., U.K

January 12, 2012

Jan. 12 (Bloomberg) -- Emerging markets are de-leveraging as investors withdraw money and invest it in the “safe havens” of the U.S., Germany and the U.K., said Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co.

Turkey has a “difficult problem” because of the twin issues of high inflation and “a very negative balance of payments,” Gross said in an interview with Bloomberg HT television broadcast today from Istanbul.

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