pimco

Fixed income managers are turning more positive on bank debt after regulators announced they will allow banks to hold a broader range of corporate bonds as a capital buffer.

The future stability of the global economy has been threatened by the Bank of England and six of the largest central banks issuing close to $6trn of "essentially free" money since the financial crisis, according to PIMCO's Bill Gross.

The manager of the world's largest bond fund has highlighted four structural headwinds that pose a risk to growth in developed economies such as the US.

PIMCO has listed 23 funds across a number of IMA sectors, including the £20bn Total Return Bond fund in the Global Bond sector, managed by Bill Gross (pictured).

The manager of the world's largest bond fund has said a Red or Blue victory will not make any difference to the US economy as the effects of monetary policy have already reached their limits.

EQUITY INCOME

Equity fund flows surged to €1.91bn in September, the first positive monthly figure since February, Morningstar's latest European fund flows data has shown.

The manager of the world's largest bond fund has pointed to the US, UK, Spain, France, Japan and Greece as serial debt addicts whose government borrowing is spiralling out of control.

PIMCO's Bill Gross, the manager of the world's biggest bond fund, has cut his stake in US Treasuries by 12%, ahead of a crucial meeting by the Fed later when it may announce further quantitative easing.

PIMCO's Bill Gross has said the Federal Reserve and other central banks are to blame for "the current shipwreck" that is the global economy.