Some key points from Russo:
- In his 30 years in the business he has never seen the yield on the 30-year with a two handle.
- Thinks Bill Gross derisking his bond portfolio was not a bad move.
- He would avoid long-term bonds, thinks the risks in long term bonds are enormous.
- Wells Fargo (WFC, Financial) is still his favorite bank.
- In his 30 years in the business he has never seen the yield on the 30-year with a two handle.
- Thinks Bill Gross derisking his bond portfolio was not a bad move.
- He would avoid long-term bonds, thinks the risks in long term bonds are enormous.
- Wells Fargo (WFC, Financial) is still his favorite bank.
