Commentary on Political Economy

Friday 15 July 2011

Socking it to Bill Gross

 I trust, friends, that you will not begrudge me the especial pleasure of socking one right into the left eye of Bill Gross, who this week threw in the towel after I warned him the best part of at least five months ago that his "bearishness on bonds" was going to rebound on him like the mythical Nemesis - and it has done so, spectacularly. Here is the story from the FT (I love it - treasuries at 2.81% - and the Chinese murderers threaten to sell!!) -
Which leads me to the last thought for the day: Bernanke may have doused QE3 speculation today - but in the "double-" and "triple-speak" of central banking nowadays the very fact that he "re-kindled" speculation only the other day has already had.... the desired "announcement effect"!!

No comments:

Post a Comment