Today's must-read Originations links. And a Point Break video.
Bill Gross
Following Bill Gross admitting he was wrong betting that Treasuries would sell, this is a good Marketwatch piece questioning whether his mea culpa means it’s time to sell bonds. If that theory is true, rates would rise. But read Gross’ comments from yesterday which confirm that rates could actually drop before you decide.
Interesting Bill Gross interview on CNBC today, following the release of his September investment outlook. In full video below he admits he was wrong on Treasury demand waning, and his long-term-slow-growth theme is best captured in this excerpt: Free market capitalism depends on a balanced market between labor and capital. And clearly we’re reaching a
-How To Fix U.S. Job Market (Bill Gross, PIMCO) -Tea Party’s New Role Model: Mike Lee (Politico) -China Bears Are Dead Wrong: Jim Rogers (CNBC) -Banks Easing Terms On Loans Deemed As Risks (NYT) -How To Tell If Markets Freak Out About Debt Limit (WaPo) -John Mauldin’s Outlook on Second Half of 2010 (Minyanville) -Secrets
Today’s links on uninformed homebuyers, fate of mortgage brokers (and Freddie Mac, and the entire industry), plus a Lamborghini chase! -Homebuyers Lack Essential Knowledge (MortgageOrb from Zillow study) -PIMCO’s Gross Says Bond Yields Might Not Spike (Colin Barr, Fortune) -Freddie Mac capital markets chief resigns (HousingWire) -Can Mortgage Industry Clean Up, Pull Together (Nick Timiraos,
Stocks are up today (Dow +20, S&P +3) and bonds are down sharply (10yr Note -53ps, FNMA 30yr 4% coupon -50bps) on continuing inflationary sentiment. Rates rise when bond prices drop in a selloff, and banks are revising rates higher this morning. Last week Bill Gross, head of PIMCO the world’s largest bond manager, said
Yesterday was the one year anniversary of QE1 ending. QE1 was a $1.25 trillion Fed mortgage bond buying campaign that began January 2009. Then QE2, a $600b Fed Treasury bond buying campaign began November 2010 and will end June 30. Last month, bond king Bill Gross asked who would buy these securities when the government
What is the bond market focused on this week? One item that has really turned some heads recently was the letter from PIMCO’s Bill Gross, stating that its Total Return Fund sold all of its Treasury holdings. Mr. Gross has been right and wrong in the past. One quote said, “PIMCO’s not sticking around to
Today Bill Gross of PIMCO, the world’s largest bond manager, questioned who will buy Treasuries in the near future when the government stops its Treasury bond buying (known as quantitative easing or QE2). That’s a harder question to answer until we see that program coming closer to it’s target June 30 end date. But the
In his latest monthly Investment Outlook, bond king Bill Gross discusses what might happen when the Fed stops buying bonds to keep rates low and stimulate the economy. Below is a notable chart of who’s been buying U.S. Treasuries and who will. Interestingly, the chart calls his own reign as bond king into question. His
In his latest monthly Investment Outlook, bond king Bill Gross discusses what might happen when the Fed stops buying bonds to keep rates low and stimulate the economy. Below is a notable chart of who’s been buying U.S. Treasuries and who will. Interestingly, the chart calls his own reign as bond king into question. His
Why Rates Set Another Record On Week of October 4 At brief intervals during trading days Thursday and Friday last week, single family home loans up to $417,000 were locked at 4% zero points and loans up to $729,750 were locked at 4.25% zero points. Record lows to say the least. Rates at the bottom
PIMCO head Bill Gross just published his June Investment Outlook in which he explores whether developed countries’ debt burdens stunt economic growth and investment returns. His conclusion: the world’s debt obligations mean a likely outcome for investors is 4-6% annualized returns for a diversified portfolio of stocks and bonds. Regarding Greece, he said that “there
PIMCO head Bill Gross just published his June Investment Outlook in which he explores whether developed countries’ debt burdens stunt economic growth and investment returns. His conclusion: the world’s debt obligations mean a likely outcome for investors is 4-6% annualized returns for a diversified portfolio of stocks and bonds. Regarding Greece, he said that “there
In his March Investment Outlook, Bill Gross head of PIMCO, the world’s largest bond manager, does a mock Q&A as though he was testifying before Congress about the financial crisis, its origins, how long it will last, what needs to be done with the banks, and where people should invest their money. Required reading. Below
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