PIMCO's Gross: No QE = Dead Markets
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PIMCO's Bill Gross wants to remind you of two things:
1. Bonds are still excellent.
2. Central banks are where bad bonds go to die. Without QE, the financial markets & then the economy will falter.
Of the two, the latter comment was made by Gross via PIMCO's Twitter account (@PIMCO). The comment comes following FOMC minutes Tuesday which alluded to waning interest in further easing from the Fed. Oh, Gross also tweeted about that as well, saying: "'Some, a couple, many.' Depends on who 'they' are. #Minutes should say, 'the Chairman' felt that…"
Wednesday, markets are lower following ECB President Draghi comments, the FOMC remarks, and Spanish bond yields soaring in a recent €2.59 billion auction. The Spanish auction target was set at €3.5 billion.
1. Bonds are still excellent.
2. Central banks are where bad bonds go to die. Without QE, the financial markets & then the economy will falter.
Of the two, the latter comment was made by Gross via PIMCO's Twitter account (@PIMCO). The comment comes following FOMC minutes Tuesday which alluded to waning interest in further easing from the Fed. Oh, Gross also tweeted about that as well, saying: "'Some, a couple, many.' Depends on who 'they' are. #Minutes should say, 'the Chairman' felt that…"
Wednesday, markets are lower following ECB President Draghi comments, the FOMC remarks, and Spanish bond yields soaring in a recent €2.59 billion auction. The Spanish auction target was set at €3.5 billion.
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