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Rating:Gross: Don't Worry, Bond Selloff is Like Grenada Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 09, 2013

Gross: Don't Worry, Bond Selloff is Like Grenada

News summary by MFWire's editors

Pimco [profile] bond chief Bill Gross went from comparing the bond fund selloff to a potential maritime disaster to wars and nuclear crises. It looks like someone needs to stop watching The History Channel.

Gross spoke on the bond selloff and his fund on CNBC's "Closing Bell," Drew Sandholm reports. Sandholm quoted Gross as saying the bond market sell off has been a skirmish, not a major war, comparing it to Grenada, as opposed to the Cuban missile crisis.

Not surprisingly, Gross talks about the tapering of quantitative easing in terms of equities volatility, not the bond selloff.

According to Sandholm, Gross said, "Why do you think stocks have gone up by so much? It's because of quantitative easing 1,2, and 3 and the ability to write checks going forward…When those checks aren't written, then even an optimist can't say stocks are on their own and looking good."

To read more, click here

Edited by: Casey Quinlan


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