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Keyword: billgross

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  • Bill Gross on CNBC says investors should stay with U.S. Treasuries

    01/25/2016 10:26:30 AM PST · by Citizen Zed · 9 replies
    Reuters ^ | 1-19-2016
    Gross also recommended investors should consider Build America Bonds, which are taxable municipal bonds that carry special tax credits and federal subsidies for either the bond issuer or the bondholder. "There are a lot of closed-end funds that are selling 10-15 percent discounts to net asset values. That means you are buying something at 80-95 cents on the dollar," Gross said. "Some of these closed-end funds deal in, yes, relatively high-quality municipal bonds." Last year, the Janus Global Unconstrained Bond Fund outperformed a comparable fund at Gross's former employer, Pimco.
  • Bill Gross’ Janus bond fund suffers highest monthly outflow in November

    12/08/2015 3:24:44 PM PST · by sparklite2 · 11 replies
    One America News Network ^ | December 8, 2015 | Jennifer Ablan
    In November, Soros Fund Management LLC, which billionaire investor George Soros chairs, pulled its roughly $500 million from an account run by Gross at Denver-based Janus Capital Group Inc . The cash withdrawals are particularly significant for Gross as his Janus Global Unconstrained Bond Fund, which Gross began managing in October 2014, holds more than $700 million of Gross' personal money. So far this year, the Janus Global Unconstrained Bond Fund is posting negative returns of 2.01 percent and lagging 72 percent of its peer category, according to Morningstar.
  • Bill Gross' Latest: "Mainstream America Is Being Slowly Cooked Alive"

    09/23/2015 8:19:20 AM PDT · by SeekAndFind · 7 replies
    Zero Hedge ^ | 09/23/2015 | Tyler Durden
    While hardly as dramatic as Bill Gross' last letter in which he urged readers to "go to cash" as a result of the "Frankenstein creation" that ZIRP has created, his latest letter "Saved by Zero" takes a calmer stance and taking a page out of Paul Marshall's FT Op-Ed profiled yesterday, urges central banks to "get off zero" as the "developed world is beginning to run on empty because investments discounted at near zero over the intermediate future cannot provide cash flow or necessary capital gains to pay for past promises in an aging society. And don’t think that...
  • Boss at $2 trillion investment firm PIMCO says 10-year-old daughter made him quit

    09/29/2014 3:27:23 PM PDT · by Lorianne · 13 replies
    Fox News ^ | 27 September 2014
    The CEO of a $2 trillion investment fund said he made the decision to resign from his post after his young daughter wrote him a note listing 22 milestones he had missed in her life. California-based Mohamed El-Erian left his job as chief executive of PIMCO in mid-March. The 56-year-old El-Erian, who made $100 million in 2011 alone, chose to leave his post after his 10-year-old daughter wrote about all the special moments he was absent for in her life.
  • Billions fly out the door at Pimco (Bill Gross)

    09/29/2014 4:48:27 AM PDT · by MeneMeneTekelUpharsin · 13 replies
    Market Watch ^ | 29 September 2014 | Kirsten Grind, Gregory Zuckerman and Min Zeng
    Pacific Investment Management Co. suffered roughly $10 billion of withdrawals following the Friday departure of co-founder Bill Gross, a person familiar with the matter said, a sign of how quickly Mr. Gross’s surprise move is reshaping the bond-investing landscape. Pimco is bracing for more outflows on the heels of the veteran investor’s departure after months of internal strife over his leadership. At the same time, some managers say they remain committed to the firm. Some within the Newport Beach, Calif., investment firm are projecting it will lose at least $100 billion or more in assets due to withdrawals, the person...
  • Pimco Founder and Bond Guru, Bill Gross Quits Firm for Janus Capital

    09/26/2014 6:13:02 AM PDT · by SeekAndFind · 16 replies
    TIME ^ | 09/26/2014 | Laura Lorenzetti
    Bill Gross, who co-founded Pacific Investment Management, or Pimco, in 1971, will leave his own firm to join competitor Janus Capital. Gross served as the firm’s chief investment officer and managed the Pimco Total Return fund — one of the world’s largest bond funds with more than $1.9 trillion in securities, according to the company’s website. The fund has not done well for years, though, and has been plagued by huge outflows. “I look forward to returning my full focus to the fixed income markets and investing, giving up many of the complexities that go with managing a large, complicated...
  • Did Derivatives Cause Bond Fund Giant, PIMCO's $2 Trillion Divorce?

    02/28/2014 8:11:51 AM PST · by SeekAndFind
    American Thinker ^ | 02/28/2014 | Chriss Street
    The Wall Street Journal on February 25th published a story about December’s messy corporate divorce between Bill Gross and Mohamed El-Erianas, co-Chief Investment Officers at Pacific Investment Management Company (PIMCO), the world’s largest bond fund with almost $2 trillion in assets.  The article focused on the prickly personality of Gross and foul language complaints by El-Erian during a period of stress last summer when the firm was suffering market losses and clients were withdrawing billions.  But despite a carefully crafted image of a traditional conservative bond manager for “serious” money, PIMCO has magnified returns by making trillions of dollars in high-risk...
  • Wealthy didn't 'build that,' they 'rode it,' says Gross

    11/04/2013 2:06:16 PM PST · by Tailgunner Joe · 20 replies ^ | November 04, 2013 | Robert Frank
    In his latest Investment Outlook, titled "Scrooge McDucks," the outspoken Pimco co-founder said that with tax reform back on the radar, the focus should be on taxing the wealthy. Yes, he knows the rich work hard. And yes, he knows they pay an outsized share of the taxes. But Gross said the wealthy really didn't earn all of their wealth. They are lucky beneficiaries of a decades-long credit boom that poured money into the hands of the financially skilled. "You did not, as President Obama averred, 'build that,' you did not create that wave," he wrote. "You rode it. And...
  • There Will Be Haircuts (Bill Gross)

    05/01/2013 7:23:44 AM PDT · by blam · 17 replies ^ | 5-1-2013 | William Gross
    There Will Be Haircuts William H. GrossMay 1, 2013 “Good as Money,” proclaimed the ad for Twenty Grand Cognac. Being a beer drinker, and never having cashed in a Budweiser to pay for a fill-up at the local gas station, I said to myself “Man, that must be really good stuff!” Even in a financial meltdown I thought, you could use it in place of cash, diamonds, gold or Bitcoins! And if the Mongol hordes descend upon us during a future revolution, who wouldn’t prefer a few belts of Twenty Grand on the way out, instead of some shiny rocks...
  • We Are All Going To Die From Inflation Says Bill Gross

    02/04/2013 3:56:29 PM PST · by lbryce · 16 replies
    Points and Figures ^ | February 3, 2013 | Jeff Carter
    They say that time is money. What they don’t say is that money may be running out of time. There may be a natural evolution to our fractionally reserved credit system that characterizes modern global finance. Much like the universe, which began with a big bang nearly 14 billion years ago, but is expanding so rapidly that scientists predict it will all end in a “big freeze” trillions of years from now, our current monetary system seems to require perpetual expansion to maintain its existence. And too, the advancing entropy in the physical universe may in fact portend a similar...
  • BILL GROSS: Investment Banks Have Morphed Markets With 'Ponzi Finance' — And Time Is Almost Up

    01/31/2013 2:34:03 PM PST · by blam · 3 replies
    TBI ^ | 1-31-2013 | Matthew Boesler
    BILL GROSS: Investment Banks Have Morphed Markets With 'Ponzi Finance' — And Time Is Almost Up Matthew BoeslerJanuary 31, 2013, 9:52 AMBill Gross, the PIMCO fund manager known as the "Bond King," is out with his February investment letter, titled "Credit Supernova!" This month, Gross tackles the relationship between credit expansion and real growth. He channels the late economist Hyman Minsky, saying the economy is now in Minsky's "Ponzi finance" phase, "when additional credit would be required just to cover increasingly burdensome interest payments, with accelerating inflation the end result." Gross writes that new credit is providing diminishing returns: "Each...
  • Obama's Crony Capitalism (PIMCO Management Now in Bed with the White House)

    01/08/2013 7:13:30 AM PST · by SeekAndFind · 7 replies
    Reason ^ | 01/08/2013 | Ira Stoll
    On the Friday before Christmas, President Obama announced that he was appointing Mohamed A. El-Erian, the CEO of Pacific Investment Management Company, as the chairman of his Global Development Council. The announcement didn’t get much attention, but it should. It exemplifies what’s wrong with Obama’s approach to economic policy, which amounts to: insult rich people as “fat cats,” raise their taxes, and then choose a favored few of them for special access. If you’re not familiar with El-Erian, you must not be watching CNBC or attending the World Economic Forum at Davos. The son of an Egyptian ambassador to France...
  • Bill Gross the “Bond King” says Buy Gold, Not Bonds

    09/11/2012 8:29:15 PM PDT · by dennisw · 20 replies
    washingtons ^ | September 10, 2012 | Washingtons
    Bill Gross Says that Gold Holds Its Value, While – In an Era of Central Bank Money Printing- Paper Money Doesn’t Bill Gross – the world’s pre-eminent bond fund manager, nicknamed the “Bond King” – is the boss at Pimco, the world’s largest bond fund, with $1.8 trillion dollars under management. Gross told Bloomberg: [There's] a diminished or dying cult of both bonds and stocks from the standpoint of a belief that they can return 10% …. Gold can’t be reproduced. It could certainly be taken out of the ground in an increasing rate but there’s a limiting amount of...
  • Bill Gross: We’re Witnessing the Death of Equities

    08/01/2012 4:34:00 PM PDT · by TigerLikesRooster · 26 replies
    WSJ ^ | 07/31/12 | Steven Russolillo
    July 31, 2012, 3:03 PM Bill Gross: We’re Witnessing the Death of Equities By Steven Russolillo The bond king says stocks are dead. Bill Gross, Pimco’s co-founder and co-chief investment officer, says stock investors should think again about the age-old “buy-and-hold” investing mantra. He says consistent, annual returns are a thing of the past. “The cult of equity is dying,” Bill Gross wrote in his August Investment Outlook. “Like a once bright green aspen turning to subtle shades of yellow then red in the Colorado fall, investors’ impressions of ‘stocks for the long run’ or any run have mellowed as...
  • Pimco's Gross Sees US Nearing Recession as BlackRock Sees Fed Step

    07/17/2012 7:31:09 AM PDT · by Qbert · 4 replies
    MoneyNews ^ | 17 Jul 2012 | MoneyNews
    Bill Gross, who runs the world’s largest mutual fund at Pacific Investment Management Co., said the U.S. is approaching a recession as BlackRock Inc. expects the Federal Reserve to take more steps to support growth. Five-year Treasury yields slid to a record 0.577 percent Monday after an unexpected drop in U.S. retail sales rekindled speculation Fed Chairman Ben S. Bernanke will use testimony Tuesday to hint at further monetary easing. That followed data earlier this month showing American employers added fewer-than-estimated workers to payrolls. Goldman Sachs Group Inc. and Deutsche Bank AG cut forecasts for U.S. growth. The U.S. is...
  • El-Erian Explains Why Spain Desperately Needs To Avoid The 'Roach Motel' Of Outside Funding

    06/07/2012 7:26:48 AM PDT · by TigerLikesRooster · 1 replies
    TBI ^ | 06/06/12 | Mamta Badkar
    El-Erian Explains Why Spain Desperately Needs To Avoid The 'Roach Motel' Of Outside Funding After months of resisting external aid, Spanish budget minister Cristobal Montoro said European institutions should help shore up the nation’s lenders. In fact reports suggest that there is a plan in place that would allow Spain to recapitalize its weakest banks with help from European partners. But in a Financial Times editorial, PIMCO's Mohamed El-Erian says there's a reason Spain had long avoided emergency European funding: "So far, emergency European funding has been impossible to exit, like a “roach motel”.
  • PIMCO's Gross warns of economic "breaking point"

    06/01/2012 9:47:21 AM PDT · by SaraJohnson · 7 replies
    Reuters ^ | 5/31/12 | Sam Forgione
    The debt crisis and central bank policy responses have degraded the quality and value of debt markets and signal a "potential breaking point" in the global economy, PIMCO's Bill Gross, manager of the world's largest bond fund, said in his monthly letter to investors. In his June outlook entitled "Wall Street Food Chain," Gross said stimulus policies by the Federal Reserve and the European Central Bank have led to riskier government bonds with lower value and paved the way for higher inflation.
  • BILL GROSS: 'We Are Witnessing The Death Of Abundance'

    02/01/2012 6:12:40 AM PST · by blam · 89 replies
    TBI ^ | 2-1-2012 | Joe Weisenthal
    BILL GROSS: 'We Are Witnessing The Death Of Abundance' Joe Weisenthal Febuary 1, 2012 In his latest monthly letter, PIMCO's Bill Gross has a long philosophical-sounding discussion about credit, delevering, and the difficult task facing Bernanke. The money line is this paragraph at the end: Where does credit go when it dies? It goes back to where it came from. It delevers, it slows and inhibits economic growth, and it turns economic theory upside down, ultimately challenging the wisdom of policymakers. We’ll all be making this up as we go along for what may seem like an eternity. A 30-50...
  • Bill Gross Sends Out Big Apology To Investors, And Then Declares That The Economy Is Doomed

    10/15/2011 7:33:34 AM PDT · by blam · 7 replies
    TBI ^ | 10-15-2011 | Joe Weisenthal
    Bill Gross Sends Out Big Apology To Investors, And Then Declares That The Economy Is Doomed Joe Weisenthal Oct. 15, 2011, 6:38 AM | Funny, just yesterday afternoon we pointed out the irony of nobody caring about the fact that Bill Gross had loaded up the boat on the long end of the yield curve, a gamble that obviously meant one thing: He sees no growth or inflation ahead -- essentially an economy that's doomed.Well.... Now he might get more attention, because he just put that in writing. Dealbreaker (via ZeroHedge) put up a special letter from Gross to his...
  • Bill Gross (PIMCO) Just Made A Huge Bet On Economic Doom, And Nobody Seems To Care

    10/14/2011 11:57:46 AM PDT · by blam · 8 replies
    TBI ^ | 10-14-2011 | Joe Weisenthal
    Bill Gross Just Made A Huge Bet On Economic Doom, And Nobody Seems To Care Joe Weisenthal Oct. 14, 2011, 2:01 PM This week, bond god Bill Gross just made a super-long bet on the long end of the yield curve, coming right after a historic rally in fixed income. It was a gigantic shift from his stance earlier this year, when he bet against Treasuries -- a bet that famously worked out badly for him. The interesting thing about this is that his short bet got TONS of attention (including a big story in The Atlantic), whereas his new...
  • After a two-year rebound, recession risks rise (fears of a double dip no longer a fringe view)

    08/20/2011 7:19:58 PM PDT · by SeekAndFind · 30 replies
    Los Angeles Times ^ | 08/20/2011 | Tom Petruno
    The U.S. economy has officially been out of recession for two years, but fear of falling back into the abyss has dogged the recovery every step of the way. Now, the prospect of recession no longer is a fringe view. "Recession is not inevitable, but I think there's better than a 50-50 chance now," said Bill Gross, the respected investment chief at bond fund giant Pimco in Newport Beach. Stock markets worldwide have been ringing warning bells since late July, as share prices have plunged in the steepest pullback since the 2008 financial-system crash. The Dow Jones index sank nearly...
  • Bill Gross' Latest: Here Is How The "Debt Man Walking", aka Uncle Sam, Plans To Steal From You

    08/02/2011 9:59:01 AM PDT · by RightGeek · 8 replies
    Zero Hedge ^ | 8/2/2011 | Tyler Durden/Bill Gross
    In his latest letter, Kings of the Wild Frontier, crushes the optimism of all those, roughly 4 altogether in the entire world whose combined IQ barely breaks into triple digit territory, who believe that the debt ceiling "compromise" does anything at all for US spending patterns, weather it is for total marketable debt, or the $66 trillion in NPV of future liabilities. Gross, however, does show us the 5 ways (well, 4 plus default) that the "debt man walking", aka Uncle Sam and his tens of trillions of future liabilities, plans to rob from you: dear taxpayer, in order to...
  • Fed to Keep Rates Low for a 'Long, Long Time': Gross

    07/13/2011 7:27:39 AM PDT · by freespirited · 21 replies
    CNBC ^ | 07/13/11 | Jeff Cox
    The Federal Reserve is unlikely to change monetary policy for years as the economy remains mired in an extended period of slow growth, Pimco's Bill Gross told CNBC. As Fed Chairman Ben Bernanke prepares his much-awaited Humphrey Hawkins speech, the co-CEO of the world's largest bond manager said he sees no end in sight to the central bank's policy of sub-zero real interest rates. "What Bernanke should explain in terms of his language is it's really going to be a long, long time from which the Fed deserts its 25 basis points Fed funds target," Gross said. "That means perhaps...
  • Bill Gross Just Said The Magic Phrase, And The Market Just Jumped (QE-3 Coming)

    06/22/2011 9:55:10 AM PDT · by blam · 7 replies · 1+ views
    TBI ^ | 6-22-2011 | Joe Weisenthal
    Bill Gross Just Said The Magic Phrase, And The Market Just Jumped Joe Weisenthal Jun. 22, 2011, 10:59 AM In a tweet, Bill Gross of PIMCO just predicted that QE3 would be revealed in August at Jackson Hole. That tweet hit at 10:23. On that prediction, stocks just jumped. No wonder they call him God.
  • US in even worse shape than Greece - Pimco founder Bill Gross (America's largest Bond Investor)

    06/14/2011 7:03:55 AM PDT · by SeekAndFind · 26 replies
    American Thinker ^ | 06/14/2011 | Rick Moran
    The founder of one of the largest bond fund management companies in the world thinks the US is in worse financial shape than Greece.CNBC: When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco's Bill Gross told CNBC Monday.Much of the public focus is on the nation's public debt, which is $14.3 trillion. But that doesn't include money guaranteed for Medicare, Medicaid and Social Security, which comes to close to $50 trillion, according to government figures.The government also...
  • US Is in Even Worse Shape Financially Than Greece: Gross

    06/13/2011 8:32:58 AM PDT · by george76 · 28 replies
    CNBC ^ | 13 Jun 2011 | Jeff Cox
    When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries... Much of the public focus is on the nation's public debt, which is $14.3 trillion. But that doesn't include money guaranteed for Medicare, Medicaid and Social Security... The government also is on the hook for other debts such as the programs related to the bailout of the financial system following the crisis of 2008 and 2009, government figures show. Taken together, Gross puts the total at "nearly $100 trillion
  • Bill Gross: Treasury investors will 'get cooked'

    06/08/2011 8:11:30 PM PDT · by Signalman · 16 replies
    CNNMoney ^ | 6/8/2011 | Hibah Yousuf
    CHICAGO (CNNMoney) -- Pimco founder Bill Gross reiterated his warning to cash out of Treasuries Wednesday afternoon. Investors who have been betting on Treasuries are destined "to get cooked like frogs in an increasingly hot pot of water," the well-known bond bear told attendees at a Morningstar Investment conference in Chicago. Gross, who manages the $235 billion Pimco Total Return Fund (PTTAX), said real interest rates, which remove the effect of inflation to measure the actual yield an investor receives, have fallen into negative territory. He pointed out that Treasury inflation-protected securities with a maturity of 5 years are trading...
  • Invest Like Pirate

    06/02/2011 8:49:31 AM PDT · by Kaslin · 11 replies · 2+ views ^ | June 2, 2011 | Bill Tatro
    One of the most popular movie series of all-time has been Disney’s Pirates of the Caribbean starring Johnny Depp. Fraught with action, adventure, and danger, these same words can also be used to describe the U.S. Treasury market. In fact, the similarities are almost chilling. If you’re sailing on the high seas and a storm was imminent, more than likely you would head for the nearest port. Trying to ride out the storm would probably bring death and destruction, and anything would be better than that. However, if the port within reach was occupied by Johnny Depp and his collection...
  • PIMCO's Bill Gross: Still Early/Wrong, And Now Even Earlier/Wronger. Bond Yields are Down.

    05/27/2011 6:32:39 AM PDT · by SeekAndFind
    Wall Street Journal ^ | 05/26/2011 | Mark Gongloff
    The yield on the 10-year Treasury note is now at 3.06%, its lowest of the year, well below its 200-day moving average and starting to worry the psychologically important 3% level, which it hasn’t broken since last December. It will not break that level any time soon, however, Pimco chieftain Bill Gross declared to Bloomberg TV today. He once again stood by his call that bond yields will rise once the Fed stops buying bonds under its QE2 program in June, a call he has been making since early March, while watching bond yields march steadily lower. Just two days...
  • Protecting Against 'Financial Repression'

    05/21/2011 11:17:28 AM PDT · by DeaconBenjamin · 12 replies · 1+ views
    Seeking Alpha ^ | May 10, 2011
    Financial repression is making a comeback. Bill Gross dedicated his May investment letter to financial repression, and an article by the FT's Gillian Tett described both policymakers and investors refamiliarizing themselves with its tenets.What is "financial repression"? Below is an abridged definition from Reinhart & Rogoff's This Time is Different: Governments force residents to save in banks by giving them few, if any, other options. They then stuff [their] debt into the banks via reserve requirements and other devices. This allows the government to finance a part of its debt at a very low interest rate; financial repression thus constitutes...
  • Stocks, Flows, and Pimco (Wonkish). Paul Krugman says Bill Gross is wrong to dump US Treasuries

    04/20/2011 6:56:40 AM PDT · by SeekAndFind · 20 replies
    New York Times ^ | 04/20/2011 | Paul Krugman
    I’ve been getting questions about what happens when the Fed wraps up QE2 — related especially to Bill Gross’s public view that interest rates will shoot up. This is related to the question of the extent to which QE2 has kept interest rates low. So a quick exposition of my theoretical position, which also happens to be more or less standard economics.So: I basically think of asset prices in a Tobin-type stock equilibrium framework (pdf). People make portfolio choices, allocating their wealth among bonds, stocks, etc.. Asset prices – including the famous “q” – rise and fall to match...
  • Premarket Summary: Inflationary Hysteria

    04/10/2011 8:34:59 PM PDT · by Zakeet · 66 replies
    Zero Hedge ^ | April 10, 2011 | Tyler Durden
    One word (well technically two) can describe what is going on in the electronic pre-market arena right now: inflationary hysteria. Gold is at a new record, wheat is surging, corn is at highest since 2008, crude at a new 30 month high, silver is at $41.10 - a new fresh post Hunt high, beans surging, etc, etc, etc. Essentially everything is bid, following news first reported on Zero Hedge that PIMCO is betting the farm that either inflation is about to go parabolic and force bondholders to dump everything, or that the Fed will have no choice but to pursue...
  • EXCLUSIVE INTERVIEW: Bill Gross of Pimco

    04/08/2011 5:58:54 AM PDT · by Hojczyk · 12 replies · 1+ views
    Washington Post ^ | April 7,2011 | Jennifer Rubin
    Bill Gross, founder and co-chief investment officer of Pimco, the world’s largest mutual fund, made news last month when he dumped all U.S. Treasurys from the $1 trillion fund he operates. I spoke with him by phone yesterday afternoon. He had a solemn warning: The United States has a year or two to change course or face a debt crisis akin to what Greece, Portugal and Ireland have experienced. He describes bond traders as “vigilant but not vigilantees,” meaning they are cautious and on the outlook for signs that inflation (“the enemy of bonds”) will rear its head. He explained...
  • Pimco's Gross: Employment Gains Show QE2 Is Working

    04/02/2011 11:39:18 AM PDT · by DannyTN · 23 replies
    Bloomberg News ^ | Friday, 01 Apr 2011 10:35 AM | Bloomberg News
    Link Only - Bloomberg News was author.
  • Bill Gross calls U.S. budget a Greek tragedy (worse than Greece)

    03/31/2011 6:42:25 AM PDT · by dennisw · 9 replies
    fortune ^ | March 31, 2011 5:40 am | Colin Barr
    Gross runs Pimco, the $1.2 trillion investment manager that has spent recent months selling Treasury bonds, citing their low yields and poor prospects. He explains in his monthly investment outlook posted Wednesday evening that U.S. government bonds "have little value" in a world of bloated budgets. While outstanding federal debt totals $9.1 trillion, he estimates the government's actual liability at $75 trillion, counting promises made under Medicare, Medicaid and Social Security. "The incredible reality is that the $9.1 trillion federal debt that constitutes the next-to-tiniest ball in our chart is nothing compared to unfunded Medicaid and Medicare. It is like...
  • Is this why Bill Gross dumped Treasuries?

    03/18/2011 7:16:35 AM PDT · by SeekAndFind · 4 replies
    A couple of revealing charts from the Fed’s Flow of Funds data. Both show net flows into Treasuries by creditor type and the Federal Government’s borrowing during each quarter. Note, the quarterly data is annualized.The first chart illustrates how QE2 flushed domestics out of Treasuries and effectively funded 63 percent of the budget deficit in Q4. The Treasury is prohibited from directly selling bonds to the central bank, but effectively finances the government through POMO.Given that a large portion of the Rest of World category are central banks recycling BOP surpluses, it’s likely that 90 percent of the U.S. budget...
  • PIMCO Dumps All Remaining Treasuries in Total Return Fund; Six Reasons to Fade Bill Gross

    03/11/2011 6:39:48 AM PST · by SeekAndFind · 5 replies
    Global Economic Trend Analysis ^ | 03/11/2011 | Mike Shedlock
    Pimco's Bill Gross has been dumping US government debt in favor of other alternatives including emerging-market opportunities. Looking ahead, I think it's more likely to be a bullish setup for treasuries than not. First, please consider the news. Bloomberg reports Pimco’s Gross Eliminates Government Debt From Total Return Fund Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., eliminated government-related debt from his flagship fund last month as the U.S. projected record budget deficits. Pimco’s $237 billion Total Return Fund last held zero government-related debt in January 2009. Gross had cut the holdings to...
  • World's Largest Bond Fund Manager Heads For The Lifeboat. PIMCO abandons US Treasuries

    03/10/2011 6:52:19 AM PST · by SeekAndFind · 14 replies
    American Thinker ^ | 03/10/2011 | Tom Shuhadlonik
    Bill Gross manages the world's largest bond fund.  If you own bonds in your retirement, either through his PIMCO fund or some other branded variant, there is a good chance he manages some of your money.  Yesterday he announced he has abandoned the US bond market in his largest fund.  As of January 2009, his $237 billion Total Return Fund held zero government related debt. People expecting a stampede from the US bond market are going to be disappointed.  Bond holders are not a herd of animals who follow each other blindly.  Bond holders are a mass of individuals with...
  • BILL GROSS: There's "No Way Out" Of The Debt Trap

    03/09/2011 12:03:29 PM PST · by SeekAndFind · 16 replies
    Business Insider ^ | 03/09/2011 | Stacey Curtin
    Debt, debt and more mounting debt is plaguing countries around the globe. In this U.S., states across the country face a collective $125 billion shortfall for fiscal 2012, while Congress is facing a budget gap nearly 10 times that size. PIMCO founder and co-CIO Bill Gross has previously said that if the United States were a corporation, no one in their right mind would lend us money. For the last decade, we’ve been “relying on the kindness of strangers” to help cover our debts, he tells Aaron in the accompanying clip. By “strangers” he is referring to our foreign counterparts,...
  • “No Way Out” of Debt Trap, Gross Says: U.S. Living Standards Doomed to Fall

    03/08/2011 8:18:37 AM PST · by Michel12 · 50 replies
    Yahoo finance ^ | March 8 2011 | Stacy Curtin
    Debt, debt and more mounting debt is plaguing countries around the globe. In this U.S., states across the country face a collective $125 billion shortfall for fiscal 2012, while Congress is facing a budget gap nearly 10 times that size. PIMCO founder and co-CIO Bill Gross has previously said that if the United States were a corporation, no one in their right mind would lend us money. For the last decade, we’ve been “relying on the kindness of strangers” to help cover our debts, he tells Aaron in the accompanying clip. By “strangers” he is referring to our foreign counterparts,...
  • The New Normal? Bond Fund Managers Buying Stocks (Bill Gross now into equity linked securities)

    12/17/2010 9:00:57 AM PST · by SeekAndFind · 4 replies · 1+ views
    Business Insider ^ | 12/17/2010 | Joshua Brown
    This one is for the hard of hearing and the folks all the way in the back of the auditorium... Bill Gross, the "Bond King", has just changed the rules to allow for the buying of equity-linked securities in his Pimco Total Return flagship fixed income fund (the largest mutual fund on earth). My "tidal wave of money out of bonds into stocks" call from October (When the Levee Breaks) is looking ridic right about now. Oh yeah, on August 26th, I told you you they were coming for that long bond. I was 30 days or so early (Save...
  • Fed Opens Books, Revealing European Megabanks Were Biggest Beneficiaries (Details you should see)

    12/02/2010 9:30:51 AM PST · by FromLori · 49 replies ^ | 12/1/2010 | Marcus Baram
    NEW YORK -- The Federal Reserve on Wednesday reluctantly opened the books on its monumental campaign to save the financial system in the midst of the recent crisis, revealing how it distributed some $3.3 trillion in relief. The data revealed that the Fed's aid was scattered much more widely than previously understood. Two European megabanks -- Deutsche Bank and Credit Suisse -- were the largest beneficiaries of the Fed's purchase of mortgage-backed securities. The Fed's dollars also flowed to major American companies that are not financial players, including McDonald's and Harley-Davidson, through unsecured short-term loans. The measure, initiated in Jan....
  • It's Over: PIMCO's Bill Gross Declares That The 30-Year Bull Run In Bonds Is Coming To An End

    10/27/2010 8:56:49 AM PDT · by WebFocus · 30 replies
    Business Insider ^ | 10/28/2010 | Gregory White
    Bill Gross of PIMCO has attacked quantitative easing as a "Ponzi Scheme," and charged the American public and our politicians, not Ben Bernanke, with fault. Gross writes: "The Fed, in effect, is telling the markets not to worry about our fiscal deficits, it will be the buyer of first and perhaps last resort. There is no need – as with Charles Ponzi – to find an increasing amount of future gullibles, they will just write the check themselves. I ask you: Has there ever been a Ponzi scheme so brazen? There has not. This one is so unique that it...
  • PIMCO's Bill Gross: Investment Outlook ( We're in Deep Demographic Doo Doo )

    07/30/2010 6:58:35 AM PDT · by SeekAndFind · 16 replies
    PIMCO INVESTMENT OUTLOOK ^ | 07/30/2010 | Bill Gross
    I write this month to condemn the inventor of the electronic “seeing eye” toilet. Yes, that’s right, I’m talking toilets here, doo-doo-stuff, some of which I hopefully won’t step in myself over the next few paragraphs. I know there must be more substantive and less objectionable topics to bring before you, but I have a sense that many of you join me in spirit if not common experience and so I devote this month’s Outlook to another trivial snippet emphasizing our joint humanity and sense of loss due to the recent disappearance of the hand flusher. I don’t know where...
  • David Rosenberg Hints That Even PIMCO's Bill Gross Is Becoming A Deflationist

    06/07/2010 7:01:55 AM PDT · by blam · 1 replies · 12+ views
    The Business Insider ^ | 6-7-2010 | Joe Weisenthal
    David Rosenberg Hints That Even PIMCO's Bill Gross Is Becoming A Deflationist Joe Weisenthal Jun. 7, 2010, 9:48 AM In his daily note, David Rosenberg hints at a rumor that we hadn't seen before: Maybe this is why Bill Gross was rumoured to be in buying long Treasuries late last week. It is never too late to change one’s mind, and secular trendlines offer all sorts of opportunities to do so. Imagine the labour market softening at a time when underlying inflation is running below a 1% annual rate. And, we haven’t even seen the full impact of the stronger...
  • Why the Bond Auction Fizzled: Fears of a 'Fiscal Train Wreck'

    03/24/2010 3:45:26 PM PDT · by CutePuppy · 74 replies · 2,697+ views
    CNBC ^ | March 24, 2010 | Steve Liesman
    The results of today's Treasury auction were a shot across the bow of the government.And, according to David Zervos, head of fixed income strategy at Jeffries, may be an indication of just how skittish some investors are feeling about the fiscal soundness of the United States, in light of big government spending for health care and other costly programs.“It’s the health-care realization trade,” Zervos told CNBC, post-auction, from the firm’s trading floor. “We’re coming to grips with the fact that we have a Congress that’s ready to go, and spend.”Zervos, who worked at the Federal Reserve in Washington, DC last...
  • "Bon" or "Non" Appétit? (greed won't be back for another generation)

    07/03/2009 6:36:51 AM PDT · by TigerLikesRooster · 10 replies · 743+ views
    Pimco ^ | 07/01/09 | Bill Gross
    "Bon" or "Non" Appétit? “Kill the umpire,” the fan cried to open the 1996 baseball season in Cincinnati, and eight pitches later, the man behind the plate, John McSherry, was dead, all 320 pounds of him screaming for more and more oxygen to feed his spastic heart. He’d been killed by a billion molecules of sink-clogging, Drano-resistant cholesterol that fed on his coronary artery and sucked up his life’s blood like a vampire in the heat of the night. The next day Howard Stern had characteristically railed that the antidote was obvious. It was the same for all fat people:...
  • Not This Again: Pimco's Gross Calls for Trillions to Be Spent to Avoid Depression

    02/06/2009 11:23:37 AM PST · by Rufus2007 · 12 replies · 572+ views
    NewsBusters ^ | February 6, 2009 | Jeff Poor
    He might be on the Forbes list of billionaires with a net worth of $1.3 billion and he may appear frequently in the financial media, but Pimco's Bill Gross doesn't have a grasp of how much "trillions" are. Gross recently called for a massive government intervention or face certain catastrophe. "This economy requires support from the government, a check from the government in some form or fashion in the trillions as opposed to the hundreds of billions," Gross said to Bloomberg TV on February 5. "And I think President Obama was right - there is a potential catastrophe if Washington...
  • Andrew Mellon vs. Bailout Nation

    01/09/2009 11:26:24 AM PST · by BGHater · 3 replies · 268+ views
    PIMCO ^ | Jan 2009 | Bill Gross
    2008 was the year when the United States led the charge of bailout nations, lending and literally guaranteeing trillions of dollars of private liabilities in an effort to avoid the advent of another Great Depression. Nothing, with the possible exception of George Bush’s IQ was the subject of greater debate. To begin with, the rescue plan itself was controversial even amongst its implementers: Congress voted against it, then a week later voted for it; Treasury Secretary Paulson designated it “TARP” (short for “Troubled Asset Relief Program”), then a month later did a 180°, refusing to buy subprime mortgages and asserting...
  • PIMCO to Obama: Tough economy awaits next president

    06/30/2008 11:02:47 AM PDT · by Brilliant · 16 replies · 153+ views
    Reuters via Yahoo! ^ | June 30, 2008 | John Parry
    The world's biggest bond fund manager anticipates that Barack Obama will be the next U.S. president, and warns that he will face stern economic circumstances. Bill Gross, chief investment officer of Pacific Investment Management Co, or PIMCO, manages the $130 billion PIMCO Total Return Fund. In his monthly "Investment Outlook" letter for July, he says the next president will inherit a swelling budget deficit that's likely to hit $1 trillion during his administration... Gross's July investment outlook letter was addressed to Obama, as if he had been elected. "Dear President Obama," the letter began. "You have inherited a mess. Your...