What does Taiwan have to do with US mortgage rates?
Formosa bonds are listed in Taiwan but issued by foreign companies and denominated in US dollar. Their name — a 16th century-vintage Portuguese term for Taiwan meaning “beautiful island” — was chosen ...
The Best, And Worst, PIMCO Funds
PIMCO recently cut the dividends of two of its popular closed-end funds (CEFs). Shareholders took a bath, but none of this was a surprise to us careful contrarians.