PIMCO Takes Don Draper’s Advice

Don Draper, the trenchant, dark presence of television’s Mad Men, counseled: “If you don’t like what’s being said, change the conversation.” That seems to be PIMCO’s communications strategy as the bond mega-manager grapples with faltering performance, sizable outflows and a…

New Value Proposition for a New Swaps Market

Though little remarked on by the major media, regulators’ four-year-old effort to overhaul the $400 trillion over-the-counter derivatives market according to Dodd Frank passed a milestone yesterday evening. An action by the Commodity Futures Trading Commission ensured that, in a…