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Bill Gross’s 2013 Predictions…Munis Dodge Bullet…2012 Bond Performance Summary…and more!

bill gross on gold

CNBC: Bill Gross 2013 predictions –  1) Stocks & bonds return less than 5%. 2)Unemployment stays at 7.5% or higher 3) Gold goes up…,

Barron’s:Munis post gains after dodging tax bullet. – Muni investors got a belated Christmas present from Congress’s fiscal cliff deal: muni bond interest will not be taxed.

About: – 2012 Bond market performance: the year in review. – The global bond markets delivered healthy returns in 2012, with positive performance across the board for the major asset classes and the eighteenth consecutive year of gains for investment grade bonds.

Learn Bonds: – Why Schwab’s bond ETFs may not be as cheap as they seem – Schwab has the cheapest bond ETFs, but its offering lacks variety, and the relatively small size of its ETFs may cause returns that are different than than the index it follows.

Business Insider: Gundlach poaches top equity fund managers from TCW – In a new press release, DoubleLine announced that it had just hired Husam Nazer and Brendt Stallings as portfolio managers. Both Nazer and Stallings were equity portfolio managers at TCW, Jeff Gundlach’s former employer.

Bloomberg: – Big bond funds continue bet on housing bond rally after 41% gain. – The world’s biggest bond managers including Bill Gross’s PIMCO and Jeff Gundlach’s DoubleLine Capital are betting housing debt that rallied as much as 41 percent last year will again beat other fixed-income investments in 2013 as the US real estate recovery strengthens.

Fortune: – Wall Street’s last gravy train may be running out of steam. Junk bonds have been on a bit of a roll lately. But if Treasuries stay where they are, the rate incentive for businesses to refinance would disappear, taking Wall Street’s recent outsized profits from the high-yield market along with it.

Reuters: – New governor takes office in debt swamped Puerto Rico. – Puerto Rico’s new governor vowed on Wednesday to work “without rest” toward economic recovery after a savage six-year recession, but he failed to announce any specific measures to address problems, including the US territory’s massive public pension liabilities.

MarketWatch: – Yield to global, short-term bond funds in 2013. The coming year could be tough for bond investors. The main risk is that if interest rates climb as the economy grows, current bond yields are so low that they offer little cushion. Bond prices decline as interest rates rise.

Bond Vigilantes: 5 Tips for investing in European high yield periphery bonds – Right company, wrong postcode, International earnings, Recession resilient balance sheet, Hard currency bonds, Value, Value, Value.

The Oblivious Investor: How to know when you should sell your out of state muni bonds – the question here is primarily about whether or not the tax savings from switching to in-state bonds would outweigh the costs of making the switch.

WSJ: – Corporate bonds face headwinds after a heady 2012. US corporations and the investors that bought their bonds had a banner year in 2012 courtesy of their “Uncle Ben” at the Federal Reserve. The move to keep interest rates low pushed by Fed Chairman Ben Bernanke prompted both investment-grade and “junk”-rated companies to sell more bonds than in any previous year.

WSJ: – Job market could jolt Treasury bond bulls in 2013. Treasury bond bulls could meet a surprising party crasher in 2013: a strong labor market.

Brendon O’Boyle: – Is now the time to buy municipal bonds? – Muni bonds had a lousy end to a great year. Could this sell-off be a buying opportunity? It likely is for a number of reasons.

BusinessWeek: – The SEC warns about muni bond risks. Is that its job? Should the resurgent SEC be boosting its mandate by trying to save investors from asset bubbles? Roben Farzad asks the question.

Fortune: – Economy isn’t the real beneficiary of fiscal cliff deal. – The political compromise does little to address the consistent headwinds that undermine growth, hold back corporate investment, and dampen job creation, says PIMCO’s Mohamed El-Erian.


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