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Pimco overweight on global equities, especially Europe, Japan stocks

Overall, Pimco said investors may need to brace for another challenging year due to uneven global economic growth and high valuations.

New York

PACIFIC Investment Management Co (Pimco) said on Tuesday that it has placed an overweight position on global equities, particularly European and Japanese equities, and is underweight on global government bonds and other securities that reflect interest rate exposure.