PIMCO’s Perspective on the Recent Market Turmoil

Global financial markets have experienced historic turmoil in the past few days in the wake of the Lehman Brothers bank­ruptcy, the sale of Merrill Lynch and the heightened liquidity concerns over AIG that led to that insurer being taken over by the U.S. government. In this update, PIMCO Co-CIOs Bill Gross and Mohamed El-Erian outline PIMCO’s view about how this “disorderly redefinition of the U.S. financial landscape” is likely to affect investors.

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