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Climate change is happening sooner rather than later at Pimco

Published Wed, Nov 27, 2019 · 5:50 am
A view of the Pacific Ocean at the Serra Colony in Malibu, California. A geographically desirable city, such as Malibu, which has strong credit factors and occupies prime ocean-front property, will likely show relative resilience after severe wildfires, with residents more willing to rebuild, said Pimco analysts.

Climate Change

San Francisco

THE typical municipal-bond analyst already wields an array of jargony acronyms befitting the niche market: GO, COP, POS. Now comes WUI.

That's Wildland Urban Interface, a term once confined to firefighters and academics. But since 2017, when some of the most destructive fires in California history burned entire neighbourhoods, analysts for bond giant Pacific Investment Management Co have increasingly focused on whether muni-bond sellers reside in that kind of environment, where people...

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