SI, me convencieron
efectivamente la deuda crece 10 veces mas rapido que el GDP..... cuanto tiempo sera sostenible esto?
Mientras, en el mercado de bonos la fiesta sigue, aunque Bill Gross ya llamo al remisse de Tony.
Bond Traders Declare Inflation Dead as Yields Below 2008 Levels
Ending Bearish Bets
Girard is no longer bearish on Treasuries, even though some of the world’s biggest investors, including Bill Gross, manager of the world’s biggest bond fund, say the best is over for bonds. Girard extended the duration of the U.S. Treasuries he oversees this month to match that of benchmark indexes from a so-called underweight position.
Auction Demand
Demand for U.S. government bonds is increasing. On average,
the Treasury received $3.21 in bids for each dollar sold at 10- year auctions this year, compared with $2.63 in 2009 and $2.41 from 2004 through 2008, according to data compiled by Bloomberg.
‘Bear Element’
“Real interest rates are moving higher,” Gross said in a March 25 Bloomberg Radio interview from Pimco’s headquarters in Newport Beach, California. “That’s the main bear element in the bond market.”
“There’s a philosophical battle between those -- and I’m in this camp -- who feel the deflationary forces are very powerful, versus those who say ‘hey, you’re printing tons of money, you’ve got to have inflation,’” said Barr Segal, a managing director at Los Angeles-based TCW Group Inc. who helps oversee $72 billion in fixed-income assets. “And they’re right, too. The big question is timing.”
http://www.bloomberg.com/apps/news?pid= ... gOyw&pos=3
