Pimco's head of MBS sees upside in illiquid markets

The credit crunch is creating abundant buying opportunities, according to the head of mortgage-backed securities at the world's biggest bond investor.

"Any time you get forced de-levering in the market you get opportunity," Scott Simon, head of the mortgage and asset-backed securities team at Pacific Investment Management Company (Pimco), told Mortgage Risk last month. In January, Simon wrote on the Pimco website about the relative value in agency securities issued by government-sponsored entitie