Employers are reluctant to hire because of political clashes over the U.S. budget, Europe’s sovereign-debt crisis and volatile energy costs, according to Pacific Investment Management Co.’s Anthony Crescenzi.
The Federal Reserve won’t raise its target rate until next year as Europe’s fiscal crisis threatens to hamper growth, according to Anthony Crescenzi , a strategist at Pacific Investment Management Co., the world’s largest bond- fund manager.
European sovereign debt has just about the same status that was bestowed on subprime mortgage bonds during the depths of the financial crisis, according to Pacific Investment Management Co.’s Anthony Crescenzi.
At least two members of the Federal Open Market Committee may vote against extending a stimulus program if the pace of U.S. economic growth climbs, according to Pacific Investment Management Co.’s Anthony Crescenzi .
The current climate in the bond market will probably “hold intact for quite some time,” said Anthony Crescenzi , portfolio manager at Pacific Investment Management Co. LLC in Newport Beach, California.