Bill Gross of PIMCO thinks that investing in the U.S. bond market right now, with yields at record lows, doesn’t make much sense. So he’s taking his money elsewhere, notably, north of the border to Canada, according to The Globe and Mail.
Gross commended the Canadians for their balanced budgets, low debt to GDP levels, and “conservative” financial institutions. The PIMCO head did not make mention of Canada’s growing real estate bubble.
Brazil and Mexico are considered better investments than the U.S. as well, according to Gross. Though he noted that with Mexico, the political situation needs to be taken into consideration.
Gross also continued PIMCO’s line on how the Federal government, under President Obama and the Democratic Congress, is not doing enough to create jobs.
Business Insider Emails & Alerts
Site highlights each day to your inbox.