Mohamed A. El-Erian News
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Spain’s bonds rose, with 10-year securities extending an eighth monthly gain, as investors sought higher-yielding assets amid speculation central banks around the world will extend stimulus measures to boost growth.
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The Federal Reserve’s plan to buy $600 billion of Treasuries to spur the economy will probably backfire, said Mohamed A. El-Erian, Pacific Investment Management Co.’s chief executive officer.
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Greece is likely to default over the next three years because budget-cutting won’t be enough to reduce the nation’s debt burden, Pacific Investment Management Co. Chief Executive Officer Mohamed A. El-Erian said.
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Pacific Investment Management Co., the world’s biggest manager of bond funds, won’t buy the debt of Greece until there is a sustainable solution to the nation’s fiscal crisis.
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Pacific Investment Management Co.’s Chief Executive Officer Mohamed A. El-Erian said U.S. economic conditions are “terrifying” as the nation struggles to recover from recession.
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The Federal Reserve will cut its growth forecasts and Europe’s economic bailout is failing, said Mohamed A. El-Erian , chief executive at Pacific Investment Management Co., which runs the world’s biggest bond fund .
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Many topics are being teed up for next month’s annual meetings of the International Monetary Fund and World Bank in Washington, a gathering that will draw about 190 country representatives. There is a substantial risk of disappointment, one that would be detrimental to the welfare of billions around the world over time.
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U.S. economic data are “alarming,” signaling the recovery is losing momentum, Mohamed A. El-Erian , Pacific Investment Management Co.’s chief executive officer, wrote in an opinion piece in the Washington Post.
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Ireland risks a “major bank run” unless European officials act quickly to calm the financial turmoil in the nation, Pacific Investment Management Co. Co- Chief Investment Officer Mohamed A. El-Erian said.
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“Obama’s Economic View Is Rejected on World Stage,” the New York Times declared on its front page. The Financial Times’ headline was “G-20 Shuns U.S. on Trade and Currencies,” while the Wall Street Journal proclaimed “U.S. Gets Rebuffed at Divided Summit.” In short, the media’s reporting on the Group of 20 summit in Seoul was brutal.
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