- "I think Bernanke and company are committed to the taper," says Bill Gross, reacting to this morning's jobs report. "It will be taper-light as opposed to taper-strong," he adds, expecting a $10B reduction (from $85B) in the current monthly pace of bond purchases.
- Bond stars like Gross, Jeff Gundlach, and Dan Fuss have seen a large exit of cash from funds since the May fixed-income selloff began. Pimco's $251B Total Return Fund (ETF version BOND) has lost 14% of AUM through a combination of withdrawals and losses.
- The Fed Funds rate remains at zero, reminds Gross, and because of that investors should stick with short-duration Treasurys (SHY) as well as paper set to gain value on credit improvement (LQD, HYG, JNK).
- Short-duration Treasury ETFs: SHY, SHV, IEI, BIL, TUZ, FIVZ, DTUL, VGSH, DTUS, DFVS, DFVL, SST, ISTB, TBZ.
From other sites
at CNBC.com (Oct 21, 2014)
at CNBC.com (Oct 14, 2014)
at CNBC.com (Oct 7, 2014)
at CNBC.com (Oct 1, 2014)
Video at CNBC.com (Oct 1, 2014)
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