Vanguard has overtaken Pimco as the largest provider of taxable-bond mutual funds by assets, a title the West Coast firm has held for more than a decade.
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Will zombies own the road ahead for financial markets or can the global economy sustain itself without central bank transfusions? That's the question posed by Pimco's cerebral chief executive officer Mohamed El-Erian in a new report that suggests the economy is still haunted by the legacy of the last crash and spoiled by the easy money that has been pumped into it since.
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