The August column from Bill Gross.Interesting (as always).http://www.pimco.com/ca/bonds_commentary_investmentoutlook_recent_index_bottom_archive.htm"...But let me alert you, Mr. Greenspan. The corporate market at the moment is close to full tilt, half frozen, trading on price - not yield. While you perhaps contently rest on the historical laurels of near 0 percent real Fed funds, its stimulation to the housing market, and your hopes for an eventual robust recovery, the cost of capital for corporations is nowhere.."
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