Pacific Investment Management Co.’s Bill Gross said the end of the 30-year rally in U.S. bonds is unlikely to be reminiscent of the drop in 1994, when the Federal Reserve raised interest rates more than forecast.
Alan Abelson, a columnist who cast a skeptical eye on U.S. financial markets and skewered targets from Alan Greenspan to Warren Buffett during more than four decades at Barron’s magazine, has died. He was 87.
Bond investors are gaining confidence that Federal Reserve Chairman Ben S. Bernanke will unwind the central bank’s unprecedented $3.3 trillion balance sheet without sparking a crash similar to 1994, when Alan Greenspan surprised the market by doubling benchmark lending rates in 12 months.
Record lows for an indicator of U.S. bond volatility show investors may be overly confident in the Federal Reserve’s ability to prop up the market, according to Michael Shaoul, Marketfield Asset Management LLC’s chief executive officer.
Global stocks rose in April, beating bonds, the dollar and commodities for a second month, as gold and copper slumped into bear markets and investors bet equities will benefit from unprecedented economic stimulus.