Salient to Investors:
Pimco’s Bill Gross said Spanish Bonds are unattractive. The global economy is delevering. Best to look at the entire core of the euro zone and not the falling dominos. Rates at the core are still too high – Italy and France yield is too high versus their nominal GDP growth. There is a high probability that Spain and Greece won’t be returning money at par.
View the full video at http://www.bloomberg.com/video/94857367-gross-too-many-sharks-in-bond-market.html