Pimco’s Gross: Treasurys only option as delevering roils markets

“It’s a global crisis from the standpoint of too much debt and delevering,” said Gross, Pimco’s co-CEO. “Greece is just the focal point for the moment, but it’s a continuing process and that’s why you see gold down, that’s why you see oil down, that’s why you see stocks down, that’s why you see risk assets down, is because they’re delevering and money is basically fleeing to the center.”

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