Pimco Underweight All European Sovereign Debt, Bradshaw Says
February 08, 2012, 8:55 AM ESTBy Emma Charlton and Lucy Meakin
Feb. 8 (Bloomberg) -- Pacific Investment Management Co., manager of the world’s largest bond fund, is underweight all European sovereign debt, according to Myles Bradshaw, a London- based executive vice president and money manager.
Portugal has similar characteristics to Greece, which is an “insolvent credit,” Bradshaw said at the AFME European Market Liquidity Conference in London today. Spain and Italy can adapt, though face contagion risks from the debt crisis, he said.
--Editors: Daniel Tilles, Paul Dobson
To contact the reporters on this story: Emma Charlton in London at echarlton1@bloomberg.net; Lucy Meakin in London at lmeakin1@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
