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.