PIMCO: Who Will Buy Treasuries?
In his latest monthly commentary, PIMCO's Managing Director, Bill Gross, opines on the following issues:
- A successful handoff from public to private credit creation has yet to be accomplished, and it is that handoff that ultimately will determine the outlook for real growth and stability.
- Because quantitative easing has affected all risk spreads, the withdrawal of nearly $1.5 trillion in annualized check writing may have dramatic consequences.
- Who will buy Treasuries when the Fed doesn’t? The question really is at what yield, and what are the price repercussions if the adjustments are significant.
Click here for PIMCO's March commentary.