Bill Gross’ love affair with Brazil ending after 10 years as bond bets sour
Bill Gross' love affair with Brazil is ending after 10 years as his bond bets sour from a steep drop in the local currency. The bond king cut Brazil bond holdings in his Total Return Fund to below 4%.
Bill Gross is souring on Brazil.
After the country's real-denominated debt plunged 13.6% last year, more than the 9% average decline for developing nations, Pacific Investment Management Co.'s chief investment officer said this week that Brazil was no longer a preferred market. His $237 billion Tot
Learn more about reprints and licensing for this article.