Greece still faces a “substantial” default risk as insolvency prevents the nation from repaying its debt when its bailout program expires in three years, Pacific Investment Management Co. fund manager Andrew Bosomworth said.
Targeted asset purchases by the European Central Bank to combat deflation risks would pose difficulties in implementation, Andrew Bosomworth, Pacific Investment Management Co.’s Germany director, wrote in the Financial Times Deutschland.
Pacific Investment Management Co., the world’s biggest bond manager, sees opportunities in Russia after investors sold out of the country during the standoff with Europe and the U.S. over Crimea. It’s throwing in the towel on Turkey.
The European Central Bank may have to take losses on its Greek sovereign bonds because the country is unlikely to repay its debt in full, Andrew Bosomworth, managing director at Pacific Investment Management Co. said.