Latest outlook from Bill Gross
The stock and bond bull market supercycle is coming to an end says Bill gross in his latest look at the markets
He says that "credit based oxygen is running out" as the tale of central banks trying to cure debt with more debt is coming to an end
There's going to be no shocks for the end of the bull run though as he says;
"I merely have a sense of an ending, a secular bull market ending with a whimper, not a bang"
Back on 21st April he called for bund shorts but then said to wait until the end of ECB QE
Back then bunds traded at a low yield of 0.066% and have traded up to 0.425% today, a 544% gain
German 10yr yields
He called it the trade of a lifetime and so far it's looking a great trade. The only thing is, he said to wait until the end of ECB QE, so I guess the proof of the pudding will be what happens after that. Adam calls the short bond trade the "widow maker" but it's hard to make a case for bond longs with yields having been so low for so long in the US, and currently being driven to all time lows and into the negative in Europe
