Europe

PIMCO, the world's largest bond fund manager, is telling its clients to diversify out of euros and into EM currencies, according to Reuters.

Markets are still searching for a "new paradigm" and will not find the answers to the financial crisis in the current cycle, according to Citigroup CEO Vikram Pandit.

The euro needs to see a sharp fall of at least 30%, bringing it into line with the US dollar, or else the eurozone is "doomed", Nouriel Roubini has warned.

A brace of broker downgrades released today has knocked London's leading share index off its six-month high.

Carmignac's chairman Edouard Carmignac has warned economic growth could weaken as a direct result of the financial transactions tax if it is given the go-ahead.

Rathbones' James Thomson has been running the £135m Rathbone Global Opportunities fund for eight years since its launch in November 2003.

ON SPECIALIST MARKETS

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EQUITIES

Neptune's Rob Burnett has shifted his £946m European Opportunities fund back to a defensive stance in the view pressures in Europe, the US and China will result in 'vulnerable' markets for the rest of Q1.