Flip Flopper?
June 27th, 2007
The Almighty Bill Gross of Pimco has flip flopped on the direction of interest rates for the second time this month.
I can feel Mr. Gross’ pain. At this point predicting the direction of interest rates is like flipping a coin. The global economy is roaring on all engines - a case for higher interest rates. At the same time, we are walking on a subprime, weaker housing, leveraged-consumer mine field. I am so glad that I am not in the interest rates prediction business.
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1. Alex Khenkin | June 29th, 2007 at 7:47 pm
Well, maybe flipping a loaded coin. The 10-year yield is on the top of its trend channel and retreating as I’m typing this, so ,for a short-term trade, the coin is loaded on the long side. Not that I’m unbiased here, being long TLT and IEF.
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