0 minute readBonds backed by Australian home loans offer value as returns outweigh the risk on notes that are “close to bullet-proof” triple-A, according to Pacific Investment Management Co. (PIMCO), manager of the world’s biggest debt fund. Pimco’s Australian unit, which manages about A$28bn (US$23.4bn) of assets, is buying the securities in its second-largest credit-market bet behind bank debt guaranteed by Australia’s government, head of portfolio management Robert Mead said in an interview in Sydney.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio