Wen and Wowkadaw

Tue, 2010/03/02 - 12:29pm | Your editor
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Here is the latest from Bill Gross, CEO of Pimco:

He begins with the usual conundrum of sovereign debt rating ceilings. This means that a country, however badly managed, gets a higher or equal bond rating than the bonds of companies located there. The reason is that a sovereign is assumed to be more creditworthy than its “serfs” (Gross's term). He explains:

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