Pimco Sees Opportunity in Europe’s Bonds After Selloff on War

Pacific Investment Management Co. is snapping up European government bonds after a sharp selloff sparked by the Middle East war.

The US asset manager has moved from being underweight on the region’s debt before the conflict to overweight now, adding exposure in its global bond funds, according to Andrew Balls, its chief investment officer for global fixed income. He saw a mispricing driven by the sudden unwinding of previously popular trades.