PIMCO worlds biggest us bond trader is experiencing massive redemption
That has little to do with markets and more to do with this;
Legendary bond investor Bill Gross stepped down as chief investment officer at Pimco Investments after 43 years at the firm.
He will decamp for Janus Capital JNS, -1.31% a much smaller Denver-based shop whose share price soared as much as 40% on the prospect of all those assets coming its way along with the Bond King.
There were a couple of interesting diversions overnight.
1. The EWA (MSCI Australian shares fund) actually rose a fraction, ie. Wall st was not selling Australia.
2. The $A has picked up almost a cent overnight.
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