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US stock rally has hit a wall: PIMCO CEO

NEW YORK: Mohamed El-Erian, the chief executive of bond fund manager Pacific Investment Management Co, said on Tuesday that the rally in US stock markets has topped out, as valuations are running ahead of fundamentals. Asked if US stocks have hit a wall, El-Erian told in a news channel: "I think we have and I think what you are seeing is a massive tug of war going on." World   read more »

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