Zero Hedge has read the tea-leaves and concludes that Bill Gross, Master of the Known Fixed-Income Universe has sold every last bit of US government debt. Gross runs the biggest bond fund in the world, so that’s not to be sniffed at. What is interesting is that Treasuries are smack in the middle of recent ranges, 25 basis points below thier high yields from early February…
As the title suggests, even smart guys can get it wrong…(Gross called for the Dow to fall to 5,000 in 2002…Instead, it rallied for 5-years, reaching nearly 14,000 in the fall of 2007.)
