Pimco’s Love Affair With Brazil Rekindled After Rejection

It didn’t take long for Pacific Investment Management Co. to be lured back to Brazil.

Three months after co-founder Bill Gross said the country was no longer a preferred market, Deputy Chief Investment Officer Mark Kiesel wrote last week that a plunge in Brazil’s government and corporate bonds has made them attractive again. Kiesel, one of six fund managers promoted after former Chief Executive Officer Mohamed El-Erian resigned in January, says he sees opportunities in sovereign notes and debt from companies including Petroleo Brasileiro SA and Itau Unibanco Holding SA.