I had the good fortune of working for over a decade for the greatest bond investor of all time – Bill Gross. Recently, with another Bill — Ackman — publicly going short the bond market and then covering the short and advertising the exploit in a tweet, many market commentators crowned him the new Bond King. A few years ago, when the original Bill departed PIMCO, one Jeffrey Gundlach was crowned the Bond King, albeit briefly.
My vote today for Bond King is not a person; it is a modest little risk-free Treasury security which we know as the Treasury 2-Year Note. And this new King gives investors lots of choices – options one may say. Let’s see how.
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