Bill Gross Explains Why He Is Not Buying Portuguese Debt (Read: Is Short), And Gives His Latest Muni Bond Outlook

Tyler Durden's picture

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
centerline's picture

Keeping his cards tight against his chest.  But, who can blame him?  He's got skin in the game and he's gonna play it until it can't be played any more.

Buck Johnson's picture

Thats exactly what I took from the conversation especially with regard to the Muni's. 

akak's picture

I would rather hear a four-hour rant by Lyndon LaRouche, delivered in Steven Hawking's robot voice, than listen to the thready, frightened little girl whining of Bill Gross.

tsx500's picture

... I    would rather gargle Oprah's diarrhea  than listen to this sheister  .....

Jaw Knee Cash's picture

I would prefer to gargle Margaret Brennan's diarrhea.

AccreditedEYE's picture

The conclusion is that in April or May, something "unexpected" will happen to give the Fed ammo to continue monetizing.

Under normal conditions, I would say that the market is a forward discounting mechanism. (One can have an entire debate on this stmt alone) However, saying that even in this bizzaro world we live in that this is still true, we should be seeing the effects of the spigot being turned off much sooner. (Read: this month. lol)

Sophist Economicus's picture

The word Putz comes to mind...

virgilcaine's picture

The half smirk with grin was a nice touch.. thanks for that riveting interview. Margaret takes this stuff so seriously, no booze filled underwear waving scenes from her. (though I did hear a faint chuckle)

StopInvesting's picture

Why does anyone believe the fed will stop buying treasuries in june?  it's much like the debt  ceiling, it will continue past any short term deadline.  

Salinger's picture



One arrested in threats against Seattle congressman FBI: California man (Charles Turner Habermann) admitted calls, said he wouldn't risk his $3 mil. trust fund by hurting McDermott

Bahamas's picture

I've read that Meredith Whitney is forecasting 50 to 100 USA municipalities to defaul within days.

Alcoholic Native American's picture

BULLSHIT, I've been saying it for a while, even gotten kicked out of forums **cough** market ticker forums **cough** but it's frankly no longer about fiscal responsibility, it's a national security issue.  UNLIMITED FUNDS TO PREVENT SOCIAL UNREST!

youngman's picture

"UNLIMITED FUNDS TO PREVENT SOCIAL UNREST" that is definately a factor...and a big one...that is why the pumping of the stock market...and keeping interest rates low...they forgot the gas and food thing though

AccreditedEYE's picture

Seeing the margin calls from such an event would be glorious...

Rockfish's picture

MW was on cnbc this morning along with Gross making that call and and flat out disagreeing with Gross.

Cameli's picture

I'd like to take that bitch out to the woodshed. Sure she's on the air warning the poor, ordinary folks about the dangers of imminent municipal defaults because she is a caring soul and couldn't bear to see the average Joe lose his retirement nest egg. Wake up suckers. These people all have agendas. She's short municipals.

Alcoholic Native American's picture

For a while there, you would have to be crazy to bet against America, now it seems its collapse in General. Goldilocks and mustardseeds BITCHES, the world economy is TBTF.


Tic tock's picture

Well, that sounds like the crash is right here and now

buzzsaw99's picture

Illinois raised income taxes from 3 to 5% in a secret session last night.  That is progress...

AccreditedEYE's picture

Austerity you can believe in. lol

cossack55's picture

May 6 my ass.  Cinquo de Mayo Bitchezzzz.


QE? QE? We don need no stinkin' QE, Senor.

Logans_Run's picture

Get it right TD! It is Newporsche Beachian.

buzzsaw99's picture

The JPMorgan CEO said he expects to see more U.S. municipalities declare bankruptcy, Bloomberg News reports. His concerns echo those of Meredith Whitney, the analyst who has said the next major financial crisis will come from a wave of local government defaults, and those of famed investor Warren Buffett, who has called the municipal debt situation a “terrible problem.”

“If you are an investor in municipals you should be very, very careful,” Dimon said, according to Bloomberg…

Why is Jamie Dimon trying to cause a panic in the muni market?

1) Steal underwear.

2) ???????????????

3) Profit!

Bahamas's picture

They're just creating so much confusion. So many different alarm bells going off at the same time in all kinds of different situations.

They just want us scared and meek. Shock and awe technique. So that when a solution is prospected we would just accept it.  "Anything will do, just stop tormenting us with these catastrophic forecasts".  "Give us some soma for Goodness sake".

When SDRs will be on the plate. people will be glad to get them, the same way European southern countries were scared of default if they didn't accept the Euro back then.

History repeats its self and memory is very short term.

johnnynaps's picture

Cutting municipalities' police and fire fighters makes sense? Sure, but don't touch that low-balled 600-800 billion dollar defense budget to chase camel-riding terrorists who dwell in caves 4000 miles away. I'm so happy and proud to be a leach on the system these days!

Motorhead's picture

Margaret Brennan is hot.

kita27's picture

That Bloomberg reporter is so hot its amazing Gross was paying enough attention to her words to respond appropriately.

The Rock's picture

I've got a magnet he can pull right here...

The Rock's picture

blah blah blah in terms of blah blah blah in terms of blah blah blah in terms of blah blah blah...

medicalstudent's picture

thanks for posting the text


more entertaining than this squirrellfully tepid mug.

SmittyinLA's picture

Well, I think the Portagee bonds were purchased by Uncle Ben to help round out the old portfolio.

I'm dragging out my supply of Confederate, Bonds, King Zog Bonds, Weimar Bonds and packaging them up in stunning Triple A garb with a little help from my friends at S&P and Mooody's. Wouldn't you like to have some these? They are really pretty.