PIMCO fund manager Bill Gross has joined the bulls. Whoa! Dogs and cats living together, etc.
I think the global economy is sufficiently strong and the U.S. economy
probably will avoid a recession, certainly on the corporate side, such
that it’s probably time to move into some high-yield, time to move into
investment-grade corporates … all of that has been hurt here in the
last few weeks as hedge funds have been imploding and credit itself has
widened dramatically in spread.
[Dow Jones via Bweek]