A gain in retail sales for a second month shows the economy is beginning to accelerate, according to Tony Crescenzi , a portfolio manager and strategist at Pacific Investment Management Co. in Newport Beach, California.
While liquidity from central banks and investigations by regulators may be preventing manipulation of the London interbank offered rate, the market would benefit from more transparency, according to Pacific Investment Management Co.’s Tony Crescenzi.
European government bonds with the exception of German securities are today’s “toxic debt” as the region struggles to contain fiscal turmoil, according to Pacific Investment Management Co.’s Tony Crescenzi.
The Federal Reserve will likely begin a program of bond buying with about $500 billion in purchases and leave it open-ended for “some chance of doing more,” according to Pacific Investment Management Co.’s Tony Crescenzi.
U.S. Federal Reserve Chairman Ben S. Bernanke may explain the central bank’s low interest-rate pledge this week, Tony Crescenzi, executive vice president and strategist at Pacific Investment Management Co., said in a Bloomberg Television interview.