Pimco Faces $35 Million Loss on Philadelphia Offices
Pacific Investment Management Co. is facing losses of around 70% on a commercial mortgage-backed security tied to a two-tower office complex in downtown Philadelphia.
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Pacific Investment Management Co. is facing losses of around 70% on a commercial mortgage-backed security tied to a two-tower office complex in downtown Philadelphia.
Saudi Arabiaโs nearly trillion-dollar wealth fund, one the worldโs biggest sovereign investors, is considering increasing its allocation to fixed income assets and award a mandate to Pacific Investment Management Co.
Pimco CEO Emmanuel Roman says, โthe moment that we get to a better outcome in the Middle East, youโll see a release of the bond market and rates to go down.โ Roman also sees inflation and the inflation shock as โsomehow transitoryโ in relation to whatโs happening in the Middle East. He speaks with David Gura at the 2026 Qatar Economic Forum, UNGA Special Edition; Powered by Bloomberg. (Source: Bloomberg)