PIMCO's Beck-Friis warns of negative interest rates' impact as reality defies theory
The unintended consequences of the negative interest rate policy are already evident, according to the Swedish-born portfolio manager and macro economist at the world's largest bond investor.
Banks, insurance companies and pension funds suffer in the current negative rate environment. This is the key message in a new analysis from PIMCO's Peder Beck-Friis, global macro fund manager, and Nicola Mai, portfolio manager and sovereign credit analyst.
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