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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Knighty Tin who wrote (13194)	5/5/2004 12:14:19 AM
From: ild	Read Replies (3) of 110194

Pimco's Gross Bets on California Bonds By Josh Friedman, Times Staff Writer The world's best-known bond investor has given a vote of confidence to California — the state with the nation's worst credit rating. Bill Gross, managing director of Newport Beach-based Pacific Investment Management Co., bought $445,200 worth of Pimco California Municipal Income shares after their value declined in late April, according to recent Securities and Exchange Commission filings. The muni income fund buys bonds issued by state and local governments in California. more at the link latimes.com

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