Pimco Says Canada Is ‘Worst’ Market for Bond Transparency

In the 20 years that Ed Devlin has traded bonds across three continents, the market of his native Canada has earned a dubious distinction in his eyes.

“It’s among the worst,” said Devlin, who’s worked in New York, London, Tokyo and Toronto and oversees $17 billion for Pacific Investment Management Co., manager of the world’s biggest bond fund. “It’s the worst in terms of transparency, it’s the worst in terms of liquidity.”