June 27, 2007 | Posted by

Flip Flopper?

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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  • http://smallinvestorchronicles.blogspot.com Alex Khenkin

    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.
    Small Investor Chronicles

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