El Erian from Pimco says the rally is unsustainable.
Posted on December 27, 2009 at 17:20 PM EST
This is the #2 at the world's biggest fund-with Bill Gross. He says the current rally is nothing more than a sugar rush and as such they are getting out of riskier investments and into government backed bonds. "Riskier stuff" could include closing out Dollar Carry Trade transactions. In either case, this is a heavy hitter and he's saying the short term outlook that has fueled this rally is