Bond giant PIMCO is making a move into equities, including equities in Europe, according to co-Chief Investment Officer Bill Gross. While some European countries face trouble going forward, Gross tells CNBC that “corporate equities … in terms of valuation, are selling at very low P/E ratios and in some cases might be perceived to be almost as safe, or almost as secure as the sovereigns themselves, because of their international exposure and their private nature”.