PIMCO is an autonomous subsidiary of Allianz.
Nobody in his right mind (let alone Bill Gross, ‘the king of bonds’) would by toxic European debt.
I highly doubt that PIMCO is a FOMO (aka Fear of Missing Out) buyer.
From the article:
“Recall that it was the IMF itself which said in October of 2012 that European banks needs to sell $4.5 trillion in assets until 2014.”
The elitists are intentionally running everything into the ground and there will be nothing left.
Again, prepare for total collapse.
– PIMCO To Buy Billions In European Toxic Debt (ZeroHedge, March 5, 2014)
Earlier today we were surprised when none other than uber central-planning skeptic, not to mention bond fund manager, Bill Gross threw in the towel and in his latest letter advocated the purchase of risk assets – and Bill Gross is the last person needing reminding that in a day and age when the 10 Year yields just barely over 2.5%, this means not bonds but stocks. The surprise, however, promptly disappeared when we realized that PIMCO is merely the latest entrant in the scramble for yield game following, with a substantial delay to all of its other “alternative” asset management peers, right into ground zero: European toxic debt.