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16 Sep 2013
Summers headline is 'huge risk-on day' - Bill Gross
FXstreet.com (Barcelona) - Bill Gross, Co-Founder of the Pacific Investment Management (PIMCO), sees Summers resignation as candidate for the Fed post as an extremely risk on development for financial markets this Monday.
The assumption is that Yellen, who is currently the Vice-Chairman, will replace Bernanke at the helm of the Fed, which suggest a continuation regime of QE.
Gross shared his thoughts via Twitter: "Summers's exit makes Monday a huge day for curve/risk on trades. Treasury 5/30 curve may steepen by 10. Stocks should do very well."
The assumption is that Yellen, who is currently the Vice-Chairman, will replace Bernanke at the helm of the Fed, which suggest a continuation regime of QE.
Gross shared his thoughts via Twitter: "Summers's exit makes Monday a huge day for curve/risk on trades. Treasury 5/30 curve may steepen by 10. Stocks should do very well."