Pacific Investment Management Co., home to the world’s biggest fixed-income fund, is shying away from risky assets as it sees a growing disconnect between the performances of financial markets and the global economy.
As the only woman in her university class in Franco’s Spain, Elena Salgado remembers being singled out by a professor who doubted she could keep up with the male students. After making a point to the class, her professor would turn to her and ask: “And you, do you also understand?”
Spanish Finance Minister Elena Salgado ’s “worst nightmares” ended with the European Union’s $925 billion plan to backstop euro-region debt. Now, she’s focusing on overhauling the country’s savings banks and labor rules to shore up the economy.