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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: bill meehan who wrote (66348)10/4/1999 10:53:00 PM
From: John Pitera  Read Replies (2) of 86076
 
Bill, one of the few Bill as savvy as yourself..... -g-

(Editorial, I think that Bill Gross is one of the tuned in debt market players we have seen in the past decade)

Bill Gross, portfolio manager extraordinaire for PIMCO, is worried about personal and corporate indebtedness.
On the PIMCO web site, Gross asserts that total debt to nominal GDP is increasing to worrying levels. Gross also states that the default rate on junk bonds is approaching levels seen during the recession of 1991 -- all the more bothersome when considering that the U.S. economy has been enjoying 3-4% growth.
If this the case during boom times, what can we expect during a slowdown? Gross tells his readers to "proceed with caution," as now may be the time to invest in the safe haven of Treasuries.
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