PIMCO's Bill Gross has predicted the US is poised to fall back into recession amid a climb in unemployment and tough times for corporates.
Ahead of Fed chairman Ben Bernanke's latest economic update, Gross said the US is "approaching recession when measured by employment, retail sales, investment, and corporate profits." Five-year treasury yields slid to a record 0.577% yesterday after an unexpected drop in US retail sales rekindled speculation Bernanke will use his testimony today to hint at further monetary easing. Bernanke will present his monetary policy report to lawmakers in the Senate and House of Representatives today and tomorrow. He said at the end of June the central bank is prepared to take further steps to s...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
