Gross on "Staying Rich in the New Normal"
In PIMCO's June 2009 Investment Outlook, Bill Gross opines on several issues, including:
- The impact of deleveraging, reregulation, increased taxation and compensation limits
- The possibility of the U.S. losing its AAA bond rating
- The "point of no return" for the government's debt levels
- The problematic expansion of the Federal Reserve's balance sheet
- The most attractive part of the yield curve
Gross' outlook is sobering, and, not surprisingly, once again relatively pessimistic. Click here for Gross' article.