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The Authority On Bonds Is Reason Why Treasuries Did Not Crumble As Equities Popped
From The Fourth Branch Of Government's Secular Outlook, Interest Rate Strategies:
With Treasury yields near the top of our expected range, PIMCO plans to overweight duration and take exposure to the 5-to 10-year portion of the yield curve. However, consistent with our Secular Outlook, we plan to also retain an emphasis on the short end of the curves in the U.S., Europe and the U.K. as central banks are likely to tighten more slowly than markets expect.
Sure, that 10 year at 3.6% is such a bargain. So let me get this straight, equity markets are planning for near hyper-inflation yet Bill Gross is happy to lock in current inflation levels. Presumably someone is wrong: here is our guess who.
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horizontal wire management is such a pain.
Do ya think that there could have been a wink and a nod from the Fed that Pimco would be covered in case the bonds exploded?
Maybe. Maybe not? Wink! Wink!
OK maybe no nod.
More like a written agreement signed with the blood of the American taxpayer (they keep several ink-wells of this at the NY Fed...)
Does this mean it is the heavyweight championship Pimco vs. GS?
Classic! Mr. Durden, you have outdone yourself. Thank you for the hearty laugh!
thanks, too . also these math questions are helping me refresh my algebra and arthmetic skills
Apocalypse Now-
Global capital is constrained, and the government debt is actually crowding out private capital.
With the battle between equities and bonds for investment, PIMCO had to make a bold statement or risk capital going into equities at the expense of bonds based on the inflation fear.
The inflation fear drum has been a psychological attempt to get people to spend again since it would be cheaper to buy now. Therefore it is a deflation or stable rate investment view (PIMCO, bonds & by the way US government interests in low rates) versus the inflation investment thesis (equities although they would be killed by interest rate increases, commodities, and consumer spending stimulation).
If deflation is believed, all into gold and we crash faster.
Agreed. LOL.
We have become this: http://www.youtube.com/watch?v=DYpfHBicjQk
TD! You didn't even have the power plugged-in on that 2950! C'mon man! Not much layer-2 forwarding going on without some juice! Although maybe Goldman has found a way to ma even this happen....
Coming soon from a Cisco reseller near you: the new Cisco Catalyst Goldman powered by the new PT OS version 6.66...
(P.S., I now have to resort to Start/Run/Calc to solve some of these CAPTCHA questions... what a personal disgrace)
I, for one, welcome our new electronic trading
overlords.
I for one welcome the united states of sachs
good finance articles
The German magazine Spiegel reports that "Pimco fears that the bond bubble bursts. (...) [not PIMCO-related] If the US credit rating gets downgraded, investors might be forced to sell their bonds. (my translation)
http://www.spiegel.de/wirtschaft/0,1518,637086,00.html (in German)
Do the PIMCO guys live in different worlds or has the reporter problems quoting them correctly??
Pimco has their position on now. Note last week Cresenzi was out trash talking the long end on Bloomberg every other day. Only Pimco can talk their book in Treasuries and make a difference.
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