By Chris Dorrell The UK faces a risk of a “hard landing” as higher interest rates squeeze consumer spending, according to a senior executive at global investment giant Pimco. Daniel Ivascyn, chief investment officer at Pimco, said the UK has a “higher probability of more significant economic deterioration” than the US. He argued that this was because it was “a smaller, open economy, with a consumer that’s feeling the brunt of central bank policy far more than their US counterparts”. Ivascyn said he had been running larger bets against UK government bonds compared with the US as he expected the…