Pimco’s El-Erian: Second half of ’10 is more important
Mohamed El-Erian says that today's nonfarm payrolls report demonstrates a “tug of war” between cyclical and structural factors. His take? The second half of 2010 will be more important that the first
Mohamed El-Erian, whose company runs the world’s biggest mutual fund, said in an interview on CNBC that today’s nonfarm payrolls report demonstrates a “tug of war” between cyclical and structural factors, and that the second half of 2010 will be more important that the first.
El-Erian, co-chief investment officer at Pacific Investment Management Co., said that the unprecedented “shock” to balance sheets suffered during the financial crisis should be factored into forecasts.
Watch the El-Erian interview
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