The former king of bonds is turning against his old asset.
Bill Gross , who built the powerhouse bond investment firm PIMCO, said his old asset of choice is better fit for the garbage can. “Cash has been trash for a long time but there are now new contenders for the investment garbage can,” said Gross, cofounder of Pacific Investment Management Co wrote on his personal website.
The bond king said that the monthly federal asset purchases will likely end soon and that foreign entities are already selling .“How quickly is the real question because even if they go up […]
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