8/22/2008

Pacific Investment Management Co., a unit of Allianz SE, continues to favor agency mortgage-backed securities over government debt despite problems at Fannie Mae and Freddie Mac. "The best opportunities in the markets are in high-quality agency MBS," said Steve Rodosky, head of Treasury and derivatives trading at Pimco. "You are getting a collateralized piece of paper at a significantly wider spread."

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