1/xFor those who don’t know, I used to work in institutional investment. I’m gonna try and make this as easy to follow as possible, because I can’t quite stress how massive this news is.
PIMCO is an investment manager with around 2 trillion dollars it looks after, that’s other peoples money equating roughly to 1.5 fuck loads. They specialise in bonds, so in simple terms they lend money out for interest.