Bond investing guru Bill Gross on Monday warned that deflation remains a growing possibility despite aggressive monetary policies by central banks around the world. In his second investment outlook letter since quitting Pimco, the bond firm he co-founded more than four decades ago, to join Janus Capital Group (JNS.N) in September, Gross said history shows that economies experience periods of both inflation and deflation, and both "are the enemies of stability and growth." The roughly $7 trillion pumped into the financial system since the financial crisis by the world's three biggest central banks has succeeded mostly in lifting asset prices rather than the cost of goods and workers' wages, he said. Gross, who oversees the Janus Global Unconstrained Bond Fund, noted how Alibaba soared from $68 (per share) on opening day to $92 (per share) in the first minute, but other prices including wages "simply sit there for years on end."
via Business News http://ift.tt/1s8dvcp
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