http://noir.bloomberg.com/apps/news?pid=20601087&sid=aiJ4X_QvFJ4g&pos=1
May 25 (Bloomberg) -- Top-performing global bond fund managers are sticking with long-term bets against the U.S. dollar even as the currency has rallied more than 4 percent since the end of last month.
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SS says - They are living in denial that the USD can rally
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From Bill Gross, who runs the $241 billion Pimco Total Return Fund, to Anthony Norris, whose Wells Fargo Advantage International Bond Fund has $1.8 billion, the investors are convinced that the greenback will lose ground against a range of currencies in emerging markets and selected developed countries such as Australia and Norway.
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SS says - There is no way the AUD can stay that strong for a considerable period of time.
It is at 104 as opposed to 110 few days ago
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Fuss of Loomis Sayles is wagering on further gains for the Australian and New Zealand dollars, in part because of their links to growth in Asia.
“They have stuff other people need,” he said in a telephone interview from Boston, referring to commodities exported by the two countries.
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SS says - They had the same stuff that other people needed in 2008 as well.
This argument is that they have stuff that other people need is non sense.
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May 25 (Bloomberg) -- Top-performing global bond fund managers are sticking with long-term bets against the U.S. dollar even as the currency has rallied more than 4 percent since the end of last month.
--------
SS says - They are living in denial that the USD can rally
----------
From Bill Gross, who runs the $241 billion Pimco Total Return Fund, to Anthony Norris, whose Wells Fargo Advantage International Bond Fund has $1.8 billion, the investors are convinced that the greenback will lose ground against a range of currencies in emerging markets and selected developed countries such as Australia and Norway.
---------
SS says - There is no way the AUD can stay that strong for a considerable period of time.
It is at 104 as opposed to 110 few days ago
----------
Fuss of Loomis Sayles is wagering on further gains for the Australian and New Zealand dollars, in part because of their links to growth in Asia.
“They have stuff other people need,” he said in a telephone interview from Boston, referring to commodities exported by the two countries.
---
SS says - They had the same stuff that other people needed in 2008 as well.
This argument is that they have stuff that other people need is non sense.
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