Bill Gross, Head of PIMCO, Recommends Mexico for FDI

Bill Gross, founder, managing director and co-CIO of PIMCO, a financial advisory dedicated to global investment, is expecting a longer recuperation time for the U.S. and Europe. In a monthly statement issued on PIMCO's website, the "Bond King" said he is investing in Australia, Mexico, Canada, Brazil, as well as other non-dollar currencies with stronger ties to Asian economies. Gross believes that in these times global equities also faces exposure to faltering economies. "The increasing gap between the rich and poor is pushing yields lower," Gross says. However, in Brazil, Mexico, Canada, and Australia, cleaner balance sheets and higher yields look much more promising. During the European debt crisis, European confidence in August sunk to its lowest level in nearly three years. The EC also reported Tuesday consumer sentiment fell from 103 in July to 98.3 in August, it's lowest point since May 2010.