Gross Insures G-7 Countries’ Debt Rather Than Buy It

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June 16 (Bloomberg) -- Bill Gross, manager of the world’s biggest bond fund, opted to insure debt from developed countries rather than buy it earlier this year. Gross’s Pimco Total Return Fund increased the credit-default swaps it sold on bonds from Group of Seven nations such as the U.S. and the U.K. to more than $3 billion in the first quarter, according to a June 7 regulatory filing. Bloomberg's Erik Schatzker reports. (Source: Bloomberg)

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