Bloomberg, Released on 7/8/16
Mohamed El-Erian explains why today’s upbeat jobs report was a gift to stock market investors.
Part 1 (part 2 below)
Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world’s largest bond funds in the world. Dr. El-Erian also served as a member of the faculty of Harvard Business School. Before joining PIMCO, Dr. El-Erian was a managing director at Salomon Smith Barney/Citigroup in London and before that, he spent 15 years at the International Monetary Fund in Washington, D.C. His book, When Markets Collide, was a New York Times and Wall Street Journal bestseller. His latest book, published in 2016, is called The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse.