Kashkari Sees ‘Downside Risk’ in Stocks, Likes Honda: Tom Keene

Concerns over Europe’s sovereign debt crisis will continue to weigh on global stocks and drive up volatility, according to Pacific Investment Management Co.’s Neel Kashkari.

Pimco, which manages about $1.3 trillion, is avoiding European banks, according to Kashkari, its head of global equities. The firm favors multinational companies that sell in fast-growing countries, such as Japanese automaker Honda Motor Co. and AIA Group Ltd., a Hong Kong-based insurer, he said.