A month ago, the rumor mill said summer vacations were
being cancelled at PIMCO and JP Morgan to prep for an autumn financial disaster. No updates since? The only thing I've heard since is that the Morgan losses are about four times worse, $8billion, not $2 bil.
= new reply since forum marked as read
Markets in the U.S. and some emerging economies are the best investment opportunities, according to Pacific Investment Management Co.’s Mohamed El-Erian...
...The U.S. is on course for tax cuts enacted under President George W. Bush to expire at the end of this year and for more than $1 trillion of automatic spending reductions to take effect in January. Investors are exposed to risks from the so-called fiscal cliff, which could cut economic growth by about 4 percent, El-Erian said.
“We would like our politicians to get their act together quicker,” he said. “You’re not going to see much done and we’re probably going to have to wait until the lame-duck session to see decisions out of Washington.”
/... http://www.bloomberg.com/news/2012-07-02/pimco-s-el-erian-says-u-s-emerging-markets-are-top-investments.html
