Gundlach Calls Gross A “Second Tier Bond Manager” And Other Highlights From His Presentation

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zerohedge.com / by Tyler Durden / Jan 10, 2017 7:59 PM

While Gundlach spoke for an hour and a half in his first webcast of 2017, perhaps his longest presentation to the broader public yet, and covered many areas in the presentation titled “Just Markets“, one line will be remembered: his direct attack at Bill Gross, whom he called a “second tier bond manager” for calling 2.6% on the 10 Year an important level.

As a reminder, earlier today Bill Gross issued his monthly outlook in which he suggested that 10Y yields rising above 2.60% would spell the end for the bond bull market, and would likely have further dramatic consequences on asset prices:

“This is my only forecast for the 10-year in 2017. If 2.60% is broken on the upside – if yields move higher than 2.60% – a secular bear bond market has begun. Watch the 2.6% level. Much more important than Dow 20,000. Much more important than $60-a-barrel oil. Much more important that the Dollar/Euro parity at 1.00. It is the key to interest rate levels and perhaps stock price levels in 2017.”

Gundlach, obviously, disagreed noting “the last line in

Read more ... source: The Bitcoin Channel

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