Allianz Se News
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Bill Gross, the world’s largest fixed-income manager, says the bull market for bonds may have ended last month. Investors are staying put.
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Lincoln National Corp. hired Paul Narayanan as managing director of portfolio management analytics as Chief Investment Officer Ellen Cooper builds her team.
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Pacific Investment Management Co.’s Bill Gross said the end of the 30-year rally in U.S. bonds is unlikely to be reminiscent of the drop in 1994, when the Federal Reserve raised interest rates more than forecast.
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Zurich Insurance Group AG, Switzerland’s biggest insurer, said first-quarter profit dropped 7 percent after investment returns declined.
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Pacific Investment Management Co., whose co-founder Bill Gross said last week the 30-year bull market in bonds is probably over, attracted the most client deposits ever in the first quarter.
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Allianz SE, Europe’s largest insurer, said first-quarter profit rose 24 percent as higher prices pushed revenue to a record.
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Commerzbank AG, the German bank that got an 18.2 billion-euro ($23.5 billion) government bailout, surged the most in almost four years as it sold new shares to repay taxpayers and bolster capital.
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Commerzbank AG, Germany’s second- biggest bank, is seeking 2.5 billion euros ($3.25 billion) in the fifth capital increase in four years to repay debt from a government rescue. The shares fell to a record low.
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Pacific Investment Management Co.’s Bill Gross, manager of the world’s biggest fixed-income fund, said the 30-year bull market for bonds has probably ended as yields reached a low and prices peaked.
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European stocks climbed, with the Stoxx Europe 600 Index extending its highest level since June 2008, as companies from ING Groep NV to Deutsche Telekom AG posted quarterly earnings that beat estimates.
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