Bill Gross on CNBC
- Yes, the Fed will raise rates in September
- Pension funds must lower expectations on payments
Now on Bloomberg:
- Removing Rousseff doesn't improve Brazilian bonds
- The Fed believes low rates are a positive; I think they're negative
- We need classic fiscal stimulus
- The central bank basically says to the fiscal authority that you don't need to pay
- "Let's raise rates in Sept and again in 6-9 months"
- There are 11 trillion in negative rate bonds; those are liabilities, not assets
- A 100 bps hike would stop the economic engine
- Investment grade index yields 2.5%, getting 100bps above that is difficult
At some point, you have to wonder if Gross is talking his book. He's finding it tough to make money at the zero bound.