Pimco’s head of Global portfolio management Scott Mather said in Wellington today.
“It depends on what the end of the year looks like, but it could be fairly soon after that”
The congressional budget office has warned the US economy will fall into recession if $600 bln of govt spending cuts and tax increases talke place at the start of 2013. financial markets are complacent about whether the Whit House and Congress will reach agreement on deferring the so-called fiscal drag on the economy until later next year
Bloomberg reporting
