July 7 (Bloomberg) -- Bill Gross, chief investment officer at Pacific Investment Management Co. and manager of the world's biggest bond fund, said the bear market in bonds is over.
``The bond bear market is beginning to go into hibernation, which is the same thing as saying the bear market's over,'' said Gross in a television interview from the firm's headquarters in Newport Beach, California. ``It ended two days ago on Wednesday. While we're not about to reap huge capital gains, bonds will do better from here in terms of price.''
``As we near the end of a Fed cycle, the economy starts to slow down and that is indicated not only by this payroll number, but the last two before that,'' he said. ``I think the Fed is about done at 5.25.''
``The bond bear market is beginning to go into hibernation, which is the same thing as saying the bear market's over,'' said Gross in a television interview from the firm's headquarters in Newport Beach, California. ``It ended two days ago on Wednesday. While we're not about to reap huge capital gains, bonds will do better from here in terms of price.''
``As we near the end of a Fed cycle, the economy starts to slow down and that is indicated not only by this payroll number, but the last two before that,'' he said. ``I think the Fed is about done at 5.25.''
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on Saturday, July 08, 2006 at 10:50 AM.
