Few would argue that Bill Gross, head of Janus Funds and former head of PIMCO, the world’s largest bond firm, is a financial flake, so it’s time to pay close attention to Bill’s analysis of 2017 financial risks. 

Happiness has dominated risk markets since early November and despair has characterized global bond markets. Hope for stronger growth via Republican fiscal progress/reduced regulation/and tax reform have encouraged risk. The potential for higher inflation and a more hawkish Federal Reserve lie behind the 100 basis point move in the 10-year Treasury from 1.40% to 2.40% over the same time period. Are risk markets overpriced and Treasuries overyielded? That is a critical question for 2017.Read more…

 
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