Pimco's El-Erian says economic rally is unsustainable

12/28/2009 | InvestmentNews (free registration)

Stocks have soared 66% since hitting lows in March, the pace of home sales is increasing and the unemployment rate is dropping. However, Pacific Investment Management Co. CEO Mohamed El-Erian warned that the situation in the U.S. is not sustainable. "We're on a sugar high," El-Erian said. "It feels good for a while but is unsustainable."

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