In the sanctuary above an herbal tonic bar, before a seated Buddha and a pair of mandalas, 48 volunteers for congressional candidate Marianne Williamson close their eyes and meditate as Annelise Balfour, the manager and head facilitator of the Source Spiritual Center, intones a welcome prayer.
Brazil’s local bonds are one of the top picks at Pacific Investment Management Co., manager of the world’s largest bond fund, as the country’s economic growth and higher interest rates offer “attractive” returns.
Brazil should return to the policies of former President Luiz Inacio Lula da Silva to boost growth, tame rising consumer prices and attract foreign investment, according to Pacific Investment Management Co.
Pacific Investment Management Co.’s fund that specializes in emerging-market local currency bonds is lagging behind peers tracked by Bloomberg data while beating the index it uses to measure performance.
Pacific Investment Management Co., the world’s largest active bond manager, plans to open a fixed- income fund today that will allocate money across a range of emerging-market debt, according to a person briefed on the plan.
The worst selloff in emerging-market currencies in five years is beginning to reveal the extent of the fallout from the Federal Reserve’s tapering of monetary stimulus, compounded by political and financial instability.