Bonds beginning to blow out as Bill Gross sinks his own ship
US 10-year yields up to 2.85% now and stocks are nearing the lows of the day after this tweet.
Gross definitely can’t be accused of talking his own ship on this one. Three basis points on bonds will cost his fund million of dollars.
Yesterday the carnage started in stocks and bonds then spilled over to the US dollar. Stay on the lookout for trouble.
CNBC report John Harwood is also getting some of the blame for a tweet saying ‘Only POTUS & a few others really know, but well-informed person on Team Obama this a.m. pegs Summers’ chances for Fed Chair as 2 in 3.’
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