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Saw a snippet on NBR. Yikes - has the old boy lost his marbles? Gold? About as far removed from bonds as you can get. But ... I'm not a big Gross fan. Fuss is worth listening to. But haveta check the date of that interview (different thread) as Treasuries were yielding lot less several months ago.
Checked the Fuss story. - The interview seems recent. Article date is Jan. 31. Here's the quote from Fuss: “High-yield is as overbought as I have ever seen it. ... This is absolutely, from a valuation point, ridiculous.” - Yep. I don't generally comment on bonds, but would have to agree on that.
Hard to tell without the transcript, but am guessing the Bloomberg editors liked the quote so much they went and applied it to ALL bonds - They may be correct - but that ain't necessarily what the ol gent intended.
Comments
Checked the Fuss story. - The interview seems recent. Article date is Jan. 31.
Here's the quote from Fuss: “High-yield is as overbought as I have ever seen it. ... This is absolutely, from a valuation point, ridiculous.” - Yep. I don't generally comment on bonds, but would have to agree on that.
Hard to tell without the transcript, but am guessing the Bloomberg editors liked the quote so much they went and applied it to ALL bonds - They may be correct - but that ain't necessarily what the ol gent intended.