Bill Gross

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It's Official: China Confirms It Has Begun Liquidating Treasuries, Warns Washington





As Bloomberg reports, "China has cut its holdings of U.S. Treasuries this month to raise dollars needed to support the yuan in the wake of a shock devaluation two weeks ago, according to people familiar with the matter. Channels for such transactions include China selling directly, as well as through agents in Belgium and Switzerland, said one of the people, who declined to be identified as the information isn’t public. China has communicated with U.S. authorities about the sales."

 
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Bill Gross Asks The $64 Trillion Question: Is China Dumping Treasurys?





 
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Currency Carnage: Gross Warns On "Fakers And Breakers", Morgan Stanley Tells Asia To Watch Its REER





What does China's "surprise" move to devalue the yuan mean for "broken" EM currencies? Nothing good, Morgan Stanley says. In short, the path ahead is riddled with exported deflation and decreased trade competitiveness against a backdrop of declining global growth and trade.

 
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Emerging Market Mayhem: Gross Warns Of "Debacle" As Currencies, Bonds Collapse





Things are getting downright scary in emerging markets as a "triple unwind" in credit, Chinese leverage, and loose US monetary policy wreaks havoc across the space. Between a prolonged slump in commodity prices and a structural shift towards weaker global trade, the situation could worsen materially going forward.

 
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Fed Lunacy Is To Blame For The Coming Crash





From our perspective, the fundamental reason for economic stagnation and growing income disparity is straightforward: Our current set of economic policies supports and encourages a low level equilibrium by encouraging debt-financed consumption and discouraging saving and productive investment. We permit an insular group of professors and bankers to fling trillions of dollars about like Frisbees in the simplistic, misguided, and repeatedly destructive attempt to buy prosperity by maximally distorting the financial markets.

 
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Bubble Finance And A Tale Of Two Spheres





We have argued that it is a perilous myth that central bankers these days control a general price level. They instead incentivize massive financial flows into securities markets and fashionable sectors. Over time, ramifications and consequences reach the profound. For one, excess liquidity promotes over/mal-investment. It’s only the scope and nature that remain in question. If major Bubble flows inundate new technology investment, the resulting surge in the supply of high-margin products engenders disinflationary pressures elsewhere. Policy responses to perceived heightened “deflation” risks then only work to exacerbate Bubbles, mounting imbalances and structural fragilities. This was a critical facet of “Roaring Twenties” analysis that was lost in time.

 
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"Say A Little Prayer" Bill Gross Warns, "Zombie Corporations Now Roam The Real Economy"





Having exposed the reality that the world's capital markets are a manipulated shell game, Janus' Bill Gross has a message for the perpetual bulls in his latest letter to investors - "say a little prayer." Gross continues, "low interest rates are not the cure – they are part of the problem," warning that ZIRP has enabled, "a host of zombie and future zombie corporations now roam the real economy. Schumpeter’s 'creative destruction' – the supposed heart of capitalistic progress – has been neutered. The old remains in place, and new investment is stifled." As he previously warned, when the central bank manipulation is removed the likely trajectory of prices is downward...

 
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Bill Gross Explains (In 90 Seconds) How It's All A Big Shell Game





"All global financials markets are a shell game right now... There is no doubt that the price of assets right now is a question mark... and ultimately when Central Banks stop manipulating markets where that price goes is up for grabs... and probably points down"

 
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Chinese Media Blames Soros, "Hostile" Foreigners For Stock Bloodbath





You might be tempted to suspect that the inevitable unwind of a completely unsustainable margin mania is to blame for the brutal selling that has cost Chinese shares some $3.5 trillion in market value over the last three weeks. But you’d be wrong, according to several Chinese newspapers. 

 
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Bill Gross Misses His Own Big Short Call - Again





Did Bill Gross learn a lesson about second guessing himself after missing out on the great Bund battering he predicted in April? According to Bloomberg, the answer is “no."

 
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5 Things To Ponder: Independence Day Reading





This weekend's reading list is a smattering of articles to enjoy between your favorite beverage, grilled meat and really fattening desert. Just remember to go back to the gym on Monday...

 
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Gross Says Hold Cash, Prepare For "Nightmare Panic Selling"





That an ETF can satisfy redemption with underlying bonds or shares, only raises the nightmare possibility of a disillusioned and uninformed public throwing in the towel once again after they receive thousands of individual odd lot pieces under such circumstances.

 
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How Accredited Investors Can Beat The Institutions In Monetizing The Unfolding, Misunderstood Paradigm Shift In FinTech





Step by step instructions on how to make money the old fashioned way in a new fangled technology world!

 
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Why Bill Gross' Departure Did Not Roil The Bond Market: Pimco Sold To Itself





Back in October, following the shocking news that after building Pimco from the ground up, Bill Gross would depart the world's then biggest bond fund following internal infighting, there were concerns that as a result of a surge in redemptions and liquidation sales at the Gross-controlled Total Return Fund, the already illiquid bond market would suffer and potentially go bidless across various CUSIPs in order to extract the best price from the forced seller. This did not happen despite an unprecedented surge in redemptions which has seen PIMCO's AUM tumble by 60% from its peak holdings of $293 billion in April 2013. Why not?

 
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This Is What Happened The Last Time Pimco Dumped Its US Treasuries





If it is indeed deja vu, all over again, look for bond yields to tumble over the next 6 months.

 
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