El-Erian Says Bond Inflows Too Much of Good Thing: Tom Keene

Sept. 10 (Bloomberg) -- Pacific Investment Management Co.’s Mohamed A. El-Erian said business is booming at the world’s largest manager of bond funds and that isn’t a good sign for the U.S. economy.

Net inflows into bond funds reached $120 billion year to date at the end of August as investors became more risk averse, Pimco’s chief executive and co-chief investment officer said in a radio interview today on “Bloomberg Surveillance” with Tom Keene. Newport Beach, California-based Pimco oversees more than $1.1 trillion of assets and runs the $248 billion Total Return Fund, the biggest bond fund by assets.
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