Here's A Sentence Bill Gross Wishes He'd Never Written...

From his February 2010 letter, PIMCO’s Bill Gross wrote…

The U.K. is a must to avoid. Its Gilts are resting on a bed of nitroglycerine.

Here’s a look at what their yields have over the last few years. UK yields are now lower, even, than Germany’s

chart

Photo: Bloomber

A full discussion on the fantastic run in Gilts (UK bonds) — despite the fact that they’ve missed their deficit targets mostly — is certainly due.

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