Bill Gross 也变牛了

greenback

The massive amounts of liquidity being pumped into markets by global central banks amount to "monetary Red Bull," and investors should fear what comes after the rush, bond investor Bill Gross told CNBC on Monday.

Pimco's famed portfolio manager—a vocal critic of the Federal Reserve's quantitative easing program that is injecting $75 billion a month into financial markets to jumpstart the U.S. economy—said that the Bank of Japan's own foray into massive bond buying was the equivalent of the popular energy drink, helping to grease the stock market's big rally.

"Financial markets are really feasting on an anticipated Japanese flavored 'Red Bull,'" Gross told "Squawk Box." He argued that low interest rates, surging credit and excessive liquidity were creating a "zombie element" to global economic activity.

"We don't necessarily endorse this Red Bull product, but we recognize its ability to energize financial markets," Gross added. "Monetary Red Bull can feel good for a while, it doesn't have many calories, but it does have some negative consequences down the road" on asset prices, he said.

He warned that zero interest rates would eventually be a drag on earnings growth, saying that cheap money led to relatively compressed margins, negative growth and layoffs.

bigbadwolf

他认为时势造英雄，债券30年大牛市结束了. 大家需要转变思维，寻找新的投资工具。

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kkgrd

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