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News Link • Economy - International

Pimco says Japan, U.S. debt losing investment appeal

• Reuters

Pimco cut its holdings of Japanese and U.S. government debt in the past six months due to their diminishing investment appeal, although Japan's political turmoil is unlikely to trigger a spike in yields in the near term, the top bond fund's head of Japan portfolio management said.

Tomoya Masanao also said a default on U.S. Treasuries would cause "quite a big shock" to global markets, although he expects the country to eventually avoid this from happening.

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