Gross said the situation remains precarious. His investment has repeatedly called the “new normal” of much slower growth rate than what the normal has been over the last 20 years. With another drop possible and continued deflation, he said 30-year bonds with a yield of 4.13 to 4.15 percent would become attractive.
China’a Shanghai composite index was down by 6.7% last night and for the month of August declined by 22%. The Chinese index closed at a three-month low and the loss last night alone was its second single biggest one day loss over the last 15 years. Many pundits are saying that the stock market action [...]
Written by Michael Markowski on
September 4, 2009 – 9:42 am
