After Getting Clocked In April, Bill Gross Steps Up Bets Against US Debt

bill gross

[credit provider=”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.

(via @dukestjournal)