PIMCO: US recovery will be anything but normal


Is the United States economy about to be relegated to a decade of European-style slow-growth? (Hey, at this rate -- given our 18-months-and-counting recession, we'll take any GDP growth, man.)

In a note to clients of PIMCO, the world's biggest bond-fund manager, strategic advisor Richard Clarida said the U.S. recession may end this year, but there will be no "traditional postwar recovery."