Economics
Pimco Joins Chorus of Negative Rate Detractors as Backlash Grows
- Bond manager sees evidence policy is having adverse effects
- Even central banks are now fretting about risky consequences
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Bond powerhouse Pacific Investment Management Co. has become the latest high-profile critic of negative interest rates, warning that one of the key central-bank tools in economically beleaguered Europe and Japan may do more harm than good.