El-Erian: Market Looking for Top-Line Growth — and Not Getting It

PIMCO’s Mohamed El-Erian says that the “new normal” is starting to play out, with a lack of top-line growth causing the market to adjust and reprice. “For a while, revenue growth is going to be muted until we finish the deleveraging process,” he says. El-Erian says he thinks that process will take “a couple of years”.

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