Pimco Favors Asian High-Grade Debt as Low U.S. Rates Persist
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Pacific Investment Management Co., which runs the world’s biggest bond fund, sees value in high-grade notes sold by Asian companies as low U.S. interest rates persist.
Five-year bonds yielding about 3 percent and rated BBB, the lowest tier of investment-grade securities, are “attractive investments,” according to Ramin Toloui, the money manager’s Singapore-based global co-head of emerging markets portfolio management. Interest rates are likely to stay low for the next couple of years, he said.