During his keynote presentation at the Morningstar Investment Conference, the PIMCO manager made the case that high debt levels and a need for financial stability mean that central banks should keep real rates close to zero for some time.
Five stats from the market and the stories behind them. This week: the Bank of England gets explicit, housing reform at the door, and a good deal delivered to Washington Post shareholders.
The overall growth picture looks quite weak, but valuations of European stocks look compelling, says Morningstar OBSR's Peter Toogood.
The weak European economy is allowing firms to unlock extra value via restructurings and spin-offs, but it's better to invest while firms are still cheap conglomerates, says Evermore's David Marcus.
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