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Pimco’s El-Erian: Stock Market Rally Is ‘Artificial’ The impressive stock market rally is “artificial,” being driven by central banks’ super-low interest rates, says Mohamed El-Erian, CEO and co-CIO of Pimco. Going forward, the market will need more “genuine growth” in the form of strong corporate balance sheets and robust economic activity and less “assisted growth” from central banks, El-Erian writes in a blog for CNBC. That transition will probably occur in the [...] via ZH
While clearly dramatic, the outcome of the French presidential election was very much anticipated and at this point the only real question is how many promises will Hollande reneg on before the week is over: if Berlusconi is any indication, all it will take is for OAT yields to spike by 20-30% and all shall be well for the status quo. Greece, on the other hand, where as we said the [...] |
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