Yesterday on Tue 21st Jan 2014, Pimco (www.pimco.com) the world’s largest bond manager (with over £1.198  Trillion = £1198 Billion which is about 85% of the annual UK GDP) under management, made the suprise announcement that it’s Co-Chief Investment Officer, Mohamed El-Erian was to step down, and leave Pimco in March.

[http://en.wikipedia.org/wiki/Mohamed_A._El-Erian]

It is news that will affect the market, as PIMCO dominate opinion in the fixed income market.