Bill Gross on the Fed and technicals
Janus Henderson bond guru Bill Gross spoke on Bloomberg after the September non-farm payrolls report.
He said that a rate hike in December is a 'slam dunk'. Note that he's made those kinds of statements before (recently) and been wrong. Still, he didn't get to be a billionaire by being wrong too often.
Separately, he was highlighting 2.40% in 10-year yields as a critical level. 10s moved up 4 bps to a high of 2.39% on the headlines but hasn't broken out.
He talked about that level as a key trendline since the 1980s. I'm not sure how he's drawing that one but it's something like this.
