updated at 5:43 p.m.. Pimco's flagship fund, once billed as the world's biggest bond fund, is shrinking fast. In September, investors pulled $23.5 billion from the Pimco Total Return Fund, with the largest redemptions coming on Sept.
(Corrects first and second paragraph to show that Fannie and Freddie are two of Pershing's smallest holdings, not largest.) Investors in the initial public offering of Pershing Square Holdings Ltd.
Dwindling demand cut factory activity across much of Asia and Europe in September, sending it to multi-month lows and raising the chances that global growth will slow in the months ahead.
Bank of America chief executive Brian Moynihan is taking on the added job of chairman, in a move that risks criticism from investors concerned at too much power in the hands of one person.
In the oil world, geopolitical risks seem to have taken a backseat - at least for now - and the focus is shifting to the growing crude oil surplus.