Bank shares in the US dived overnight after a group of investors united to try force Bank of America to repurchase soured mortgages packaged into $47bn of bonds.
Pimco's Mike Amey believes Chancellor George Osborne must stick to his reduction plans outlined in the Budget despite fears the cuts could derail UK growth.
Pimco, the manager of the world's largest bond fund, has been selling down treasuries as it expects a second round of debt purchases by the Federal Reserve to have limited impact.
Fund manager Martin Gray has attacked the failure of governments to adequately overhaul financial regulation.
Bill Gross' Pimco, the world's largest bond manager, has made a $8.1bn bet the US will not suffer a decade of deflation similar to Japan in the 1990s.
Pimco is bringing two of its giant institutional funds into the UK retail space for the first time with the launch of a new product range.
Pimco's Ketish Pothalingam says increased M&A activity could end this year's sterling bond issuance drought.
Pimco's Bill Gross says there will be no housing-led recovery in the US without Government support.