Bill Gross: QE on hold but QE3 would be back on if jobs reports are weak

Last month PIMCO founder and Chief Investment Officer Bill Gross said PIMCO sees a mortgage-backed QE3 from the Fed as likely. As a result, Pimco has increased its exposure to these. He spoke to Bloomberg television yesterday about how his views on this have changed and it depends on the upcoming jobs reports

[Premium] On Investors Who Expect QE3 in 2012

Quantitative easing hasn’t worked to lower interest rates in the past but has caused a huge uproar from those opposed to the policy in the US. QE is therefore both ineffective and politically-charged. But a lot of people still expect it

[Premium] Daily commentary: On QE3

This one’s short today as I am running out of time. I posted earlier regarding Bill Gross’ comments about the Fed doing a mortgage-backed QE3. There’s nothing fundamentally off about this call. But we really aren’t there yet as it is wholly dependent on the US economy

Bill Gross on his expectations for QE3 and more

The following transcript and video is courtesy of Bloomberg TV where Bill Gross spoke to Margaret Brennan today, telling her that he thinks the Fed will go Qe3, but that it will shift to mortgage backed securities when Operation Twist ends in June. He doesn’t limit his commentary to the Fed and QE3. There’s a lot more here. Enjoy

Bill Gross on Risk Seeking Return and Safe Carry

Bill Gross is out with his monthly commentary. Because his points are central to the discussion of policy and markets right now, I am going to write this weekly newsletter commentary outside the paywall. The major question is about how to invest in a world that levers much more slowly in total, and can delever sharply in selective sectors and countries. Gross has some answers and I have some comments on the macro backdrop

Bill Gross: mortgages make sense while Fed suppresses yields

This is an interesting one from Bill Gross on financial repression. It goes back to the policies I have called rate easing and permanent zero, where the Fed is practically guaranteeing yields out to three years. Bill Gross sees this and thinks mortgages!

[Premium] Biggest highlights from Barron’s Roundtable

Here are the comments I found the most interesting from the first part of this year’s Barron’s Investing Roundtable interview which was published today

News Links: The ugly side of ultra-cheap money

News links for 21 December 2011 including notes on technology, the sovereign debt crisis, elections, and Europe

Bond vigilantes and the currency relief valve

The last post by Randall Wray below is an interesting one because it points out how the world has changed since the end of the gold standard and why the sovereign debt crisis is centered in the euro zone.

While I have an Austrian bias overall, for me, MMT is the best way to think about nonconvertible floating exchange rate systems as distinct from fixed exchange rate, currency board, pegged and convertible systems. The difference is policy space and what I would call the bond vigilante relief valve

Bill Gross and Larry Fink on the economy

Bloomberg Television has another great set of interviews to see, this time with Larry Fink of BlackRock and Bill Gross of PIMCO. The two sat down with Bloomberg Television’s Erik Schatzker for an exclusive conversation at an alumni event hosted by UCLA Anderson School of Management (I guess both are UCLA alums; I almost went there myself).

They covered a huge range of topics in the interview from the US supercommittee to Occupy Wall Street to the European Sovereign Debt Crisis and on down the line. Very good stuff

Videos below

Gross, El-Erian on Europe, Strategy, Treasuries

PIMCO’s Mohamed El-Erian and Bill Gross spoke exclusively with Bloomberg Television’s Tom Keene today from the company’s headquarters in Newport Beach, CA about Europe’s crisis, PIMCO’s investment strategy and Treasury yields.

Video here

Chanos and Gross versus Paulson and Bloomberg

Here’s Jim Chanos on the demonstrations on Wall Street which express the anti-bailout sentiments expressed by both the Tea Party and #OccupyWallStreet. Bill Gross, Vikram Pandit, John Paulson and Michael Bloomberg all chimed in too