It appears PIMCO have taken advantage of the latest bounce in the $US to sell some assets. Reuters reported last night that Bill Goss's influential fund have dumped ALL their US treasuries.
One would imagine as the markets digest this information tonight that the response will not be a rise in the $US and a fall in silver. In the words of Graham Summers in an emailout today;
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"In case you missed it, a MAJOR development has occurred in the financial world in the last 48 hours. As usual the mainstream financial media has completely missed it.
That "development" is the Bond King, Bill Gross, the single largest bond fund manager in the world has dumped ALL of his US Treasury holdings.
Bill Gross, with the possible exception of Goldman Sachs, has the best access to the US Federal Reserve and US Treasury Department of any investor on the planet. During the 2008 Crisis it was rumored the Treasury had him on "speed dial. So for Gross to be dumping ALL of his US Treasury holdings means that the US debt implosion is about to hit the markets... which means Treasuries collapsing, interest rates soaring... and inflation going into hyperdrive."
