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“When you look at the balance of the dual mandate right now, it is certainly much more challenging. I think the Fed is going to have to practice much more patience from here.”
Pimco execs told the U.S. Treasury that a Russian default would actually give President Vladimir Putin more money for his war efforts.
But doing so in the wake of the country's widely condemned invasion of Ukraine brings unique risks.
Negative yields are starting to affect markets for below-investment-grade corporate bonds.
Bondholders are ratcheting up pressure on high-yield borrowers to make financial data public.