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Keep Buying Treasuries, Bill Gross Tweets

We are surprised today is August 1... summer goes so fast! We are NOT surprised today's manufacturing data is nebulous (Global GDP is rising just 1.6 percent)

Insight & Action

More countries are contracting than expanding according to the survey... and we didn't even include the negative results from smaller economies like Hungary, Sweden and Norway. In addition, Germany and Italy just barely crossed over into growth mode with readings of 50.7 and 50.4 respectively (50 marks the inflection point between growth and expansion.)

You can understand why central bankers this week are responding with a unified voice...

Insight & Action

When central bankers are buying, you want to buy too. They're big and set the market, like a bus with a blinker on: MOVE OVER! Our friend Bill Gross at PIMCO runs the world's largest bond fund and his tweet certainly caught our attention:

Until core #PCE reaches 2.0% and core #CPI reaches 2.5%, short rates are going nowhere. Buy 5-yr #Treasuries & corporate paper.

Since core PCE is 1.1 percent and core CPI is 1.6 percent, consider yourselves in the know. Here's the chart of what Bill is buying.

Insight & Action

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