FYI: Don’t bet on zero to negative bond yields to feed the stock-market’s gains.
That’s from Bill Gross, co-founder of bond-market behemoth Pimco, who took on a familiar target in his first investment outlook since his retirement from money management at Janus Henderson.
Gross railed against central banks for contributing to the expanding universe of negative-yielding bonds that has taken over Europe and Japanese debt markets. He argued that the way low interest rates juiced asset values is not likely to remain sustainable in the future.
“Prepare for slow economic growth globally and an end to double-digit market price gains of months and years past,” said Gross.
Regards,
Ted
https://www.marketwatch.com/story/gross-says-investors-should-prepare-for-end-to-double-digit-price-gains-for-markets-2019-10-15/print
