Pimco’s Bill Gross Says Buy Canadian, Mexican Debt: Tom Keene

Investors should avoid dollar-denominated government debt weighed down by budget deficits and invest in bonds in Canada, Mexico and Brazil, according to Bill Gross, manager of the world’s largest bond fund at Pacific Investment Management Co.

“It’s a critical strategy going forward to get out of the dollar and into some currency that holds its value,” Newport Beach, California-based Gross said in an interview with Tom Keene on a Bloomberg Television “Surveillance Midday” program that was taped on Dec. 22 and broadcast today for the first time. “I’d suggest Mexico, Brazil or Canada as three examples of countries with good fiscal balance sheets.”