Pacific Investment Management Co. believes the chance of global recession in the next three to five years is more than 60%, Bloomberg News reported Tuesday.

Saumil Parikh, a Pimco portfolio manager, said in a report that "the frequency of global recessions tends to increase when global indebtedness is high and falling as opposed to when indebtedness is low and rising," Bloomberg reported.

Full story at http://www.bloomberg.com/news/2013-06-11/pimco-sees-60-chance-of-global-recession-in-five-years.html

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