Photo: via PIMCO
In early April, Bill Gross went short US Treasuries, after warning about US creditworthiness and inflation for a long time.He got clocked on that bet. Treasuries had their best month in 8 years.
Now he’s going even shorter.
As Bloomberg notes, he’s gone from -3% of his assets to -4% of his assets in Treasuries.
Still, it’s seemed as though even he’s been wavering. A couple days ago he hinted that if the economy were to weaken he could still conceivably cover his bets, and go long.
But in the meantime: doubling averaging down.
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