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PIMCO’s Gross Sees Government Backing of Mortgages Undesirable but Necessary

Bond king Bill Gross sent out a blunt message after the European Central Bank’s decided to cut its key interest rate to a new record low overnight: “World awash in money. Fed buys 85 billion.

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That said, I expect the recovery to be moderate, with real gross. see the unemployment rate come down more quickly and, in fact, should gain momentum, we must also acknowledge that our economy is.

PIMCO’s Ivascyn to Challenge Gross With Unconstrained Fund The new group CIO is about to go head to head with Bill Gross in the fastest-growing segment of fixed income: unconstrained funds.

Pimco’s Bill Gross Sees 2010 as Year of Reckoning. By John Curran, courtesy of TIME . Pimco managing director Bill Gross not only oversees the world’s biggest bond fund, his views often sway markets.

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While Gross professes “rage and incomprehension at the pain and death of living things,” he comes to accept that government. mortgage rate and the economy peeked its head out its hole like a.

PIMCO’s Gross On Free Money And Inflation. According to Gross – Well, the answer is sort of complicated but then it’s sort of simple: They just make it up. When the Fed now writes $85 billion of checks to buy Treasuries and mortgages every month, they really have nothing in the "bank" to back them.

Pimco’s Gross ups bets against U.S. sovereign debt. Cash was the new flavor for Gross as he boosted holdings of cash and its equivalent to 31% by the end of March, up from 23% in February and 5% in January in the fund. The holdings of mortgage-backed securities were reduced to 28% by the end of March from 34% in February and 42% in January.