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PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big

 
lol
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03/10/2022 02:29 PM
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PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
[link to www.zerohedge.com (secure)]


It looks like BlackRock and its ESG preacher CEO Larry Fink aren't the only ones on Wall Street who are set to lose billions on their Russian assets.

While plenty of American firms have recorded massive losses on Russian assets, PIMCO, the bond trading giant founded by Bill Gross decades ago, has somehow managed to lose money on both its holdings of Russian bonds, as well as its CDS.

How is this possible? As we explained earlier this week, many fear that even if Russia defaults on its foreign currency sovereign debt, western sanctions might prevent CDS holders from collecting on their winnings.



PIMCO had $1.5 billion in Russian government bonds on its books. Then early this year, it sold $1.1 billion in CDS, with at least five PIMCO funds selling the CDS to investors, leaving PIMCO holding the bag if the Russians default. So, if Russia defaults, not only will PIMCO be left holding worthless bonds (which have already rapidly depreciated in recent weeks), but it will be on the hook for the CDS payments, the FT reports.

Of course, in the interim, PIMCO receives payments from the CDS holders. The payments are like insurance premiums. In anticipation of a Russian default (something that Wall Street expects with growing certainty), PIMCO has already started with the write-downs.

Russia last week made an interest payment on one of its ruble-denominated bonds, but said the money wouldn't reach foreign investors, in accordance with a Moscow ban on the central bank sending foreign currency abroad.

Two interest payments on Russia’s foreign currency debt, which is covered by CDS, are due on March 16.

Of course, any losses would pale in comparison to PIMCO's $2.2 trillion in assets.
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03/10/2022 02:32 PM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
putinoil
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03/10/2022 03:22 PM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
Thread: Made for Each Other: Gateway Pundit's James Hoft and Jezreel Morano. Jim and his young Filipino husband make the perfect married couple!



ATBP0n-prove
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03/16/2022 02:40 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
Good!

Let the whole damn system burn down to ashes!

clappamarvelous-bc
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03/16/2022 02:40 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
burnit
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03/16/2022 05:27 AM

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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
This bond dumping by Russia picked up on the 14th.
Anonymous Coward
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03/16/2022 06:09 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
[link to www.zerohedge.com (secure)]


It looks like BlackRock and its ESG preacher CEO Larry Fink aren't the only ones on Wall Street who are set to lose billions on their Russian assets.

While plenty of American firms have recorded massive losses on Russian assets, PIMCO, the bond trading giant founded by Bill Gross decades ago, has somehow managed to lose money on both its holdings of Russian bonds, as well as its CDS.

How is this possible? As we explained earlier this week, many fear that even if Russia defaults on its foreign currency sovereign debt, western sanctions might prevent CDS holders from collecting on their winnings.



PIMCO had $1.5 billion in Russian government bonds on its books. Then early this year, it sold $1.1 billion in CDS, with at least five PIMCO funds selling the CDS to investors, leaving PIMCO holding the bag if the Russians default. So, if Russia defaults, not only will PIMCO be left holding worthless bonds (which have already rapidly depreciated in recent weeks), but it will be on the hook for the CDS payments, the FT reports.

Of course, in the interim, PIMCO receives payments from the CDS holders. The payments are like insurance premiums. In anticipation of a Russian default (something that Wall Street expects with growing certainty), PIMCO has already started with the write-downs.

Russia last week made an interest payment on one of its ruble-denominated bonds, but said the money wouldn't reach foreign investors, in accordance with a Moscow ban on the central bank sending foreign currency abroad.

Two interest payments on Russia’s foreign currency debt, which is covered by CDS, are due on March 16.

Of course, any losses would pale in comparison to PIMCO's $2.2 trillion in assets.
 Quoting: lol 82424647


Is it possible to even know how many “Russian” affected CDS are in the system.
Agent 99

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03/16/2022 06:10 AM

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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
Bookkeeping and accounting will continue until April 15th. Then the US joins in and Gold Standard happens.
T-Man

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03/16/2022 06:10 AM

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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
Good!

Let the whole damn system burn down to ashes!

clappamarvelous-bc
 Quoting: Anonymous Coward 82484390


they love when we cheer for their plans :)
Anonymous Coward
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03/16/2022 06:36 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
Now that the world knows the USA is SO DESPERATE
that we are ROBBING nations to save ourselves
from drowning, how long before they look elsewhere?

Great opportunity for BRICS nations to put a
stake in the heart of the Satanic West's
New World Order.


hell_boy
T-Man

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03/16/2022 07:01 AM

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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
Now that the world knows the USA is SO DESPERATE
that we are ROBBING nations to save ourselves
from drowning, how long before they look elsewhere?

Great opportunity for BRICS nations to put a
stake in the heart of the Satanic West's
New World Order.


hell_boy
 Quoting: Anonymous Coward 82492878


ahh yes. BRICS and everything else that was already years in the making and needs exactly this conflict to finally have a reason for finalising

like america cares about hyperinflation washing away their debt, before they switch to a new digital currency, which they also announced a long time ago already.

as far as i remember the new 100$ bill has already been stated as being the LAST new note of its family.
Anonymous Coward
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03/16/2022 07:12 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
Now that the world knows the USA is SO DESPERATE
that we are ROBBING nations to save ourselves
from drowning, how long before they look elsewhere?

Great opportunity for BRICS nations to put a
stake in the heart of the Satanic West's
New World Order.


hell_boy
 Quoting: Anonymous Coward 82492878


ahh yes. BRICS and everything else that was already years in the making and needs exactly this conflict to finally have a reason for finalising

like america cares about hyperinflation washing away their debt, before they switch to a new digital currency, which they also announced a long time ago already.

as far as i remember the new 100$ bill has already been stated as being the LAST new note of its family.
 Quoting: T-Man


:zimbabwe:
Anonymous Coward
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03/16/2022 07:15 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
blackrock scumbags
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03/16/2022 07:42 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
[link to www.zerohedge.com (secure)]


It looks like BlackRock and its ESG preacher CEO Larry Fink aren't the only ones on Wall Street who are set to lose billions on their Russian assets.

While plenty of American firms have recorded massive losses on Russian assets, PIMCO, the bond trading giant founded by Bill Gross decades ago, has somehow managed to lose money on both its holdings of Russian bonds, as well as its CDS.

How is this possible? As we explained earlier this week, many fear that even if Russia defaults on its foreign currency sovereign debt, western sanctions might prevent CDS holders from collecting on their winnings.



PIMCO had $1.5 billion in Russian government bonds on its books. Then early this year, it sold $1.1 billion in CDS, with at least five PIMCO funds selling the CDS to investors, leaving PIMCO holding the bag if the Russians default. So, if Russia defaults, not only will PIMCO be left holding worthless bonds (which have already rapidly depreciated in recent weeks), but it will be on the hook for the CDS payments, the FT reports.

Of course, in the interim, PIMCO receives payments from the CDS holders. The payments are like insurance premiums. In anticipation of a Russian default (something that Wall Street expects with growing certainty), PIMCO has already started with the write-downs.

Russia last week made an interest payment on one of its ruble-denominated bonds, but said the money wouldn't reach foreign investors, in accordance with a Moscow ban on the central bank sending foreign currency abroad.

Two interest payments on Russia’s foreign currency debt, which is covered by CDS, are due on March 16.

Of course, any losses would pale in comparison to PIMCO's $2.2 trillion in assets.
 Quoting: lol 82424647


BLACKR0CK owns the world... the loss is just a drop in the oceans of money
Anonymous Coward
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03/16/2022 07:43 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
Pimps have no business forming a company. PIMCO...
Big Duke6

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03/16/2022 07:45 AM

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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
No fecks given
Anonymous Coward
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03/16/2022 07:46 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
So what? Look the Douche Bank,
Anonymous Coward
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03/16/2022 07:54 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
Russian moneys worthless thus the bonds are worthless.
I wonder what the balance sheet looks like for us versus all of them.
I support a fire,at least america would have honest books afterwards.
Too many foreign entanglements are dragging usa down.
Gold standard?
Lol,usa cant even pay off its gold debts,so why would anybody trade with usa?
Anonymous Coward
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03/16/2022 08:00 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
Russia has the legal right

to dishonour all obligations to anyone

and to seize all foreign asssets

of sanction countries
Deano2020

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03/16/2022 08:05 AM

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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
No worries. It’s just printed money. Congress will bail them out
Deano2020
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03/16/2022 08:20 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
No worries Biden and crew got this.



[imgur] [link to imgur.com (secure)]
Anonymous Coward
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03/16/2022 08:58 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
They will probably be bailed out by the government and will benefit from it.
Anonymous Coward
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03/16/2022 09:07 AM
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Re: PIMCO $2.2 trillion in assets. Set To Lose Billions If Russia Defaults On Foreign Debt The bond trading giant could lose big
Bear Stearns 2.0





GLP