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Monday, July 29, 2013

Gross Refuses To Abandon TIPS

News summary by MFWire's editors

Will Bill Gross ever stop betting on TIPS? The answer is still "No."

The Wall Street Journal's Ben Eisen reports. Despite Gross' Pimco [profile] Total Return Fund's TIPS losing $3.9 billion in value as of March 31 during the second quarter, Gross continues to push the strategy, tweeting last Friday:

"Inflation must be defended from the lower bound" said Chairman Bernanke. China destroying capacity. Buy TIPS."

Pimco's portfolio manager, Jeremie Banet, a specialist in inflation-linked investments, recently advocated for the TIPS strategy. He told Bloomberg that "We think the reason interest rates are rising is because people expect the Fed to be less accommodative. If inflation is really as low as what is priced into the TIPS market, the Fed should be concerned about premature tightening."

Meanwhile, DoubleLine [profile] chief executive and founder Jeffrey Gundlach continues to tell investors not to bet on TIPS, Eisen writes.

To read more, click here

Edited by: Casey Quinlan


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