Pimco’s Gross Says Fed to Shift Operation Twist to Mortgages
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Pacific Investment Management Co.’s Bill Gross said the Federal Reserve will probably shift focus to mortgage securities to keep borrowing rates low when its so-called Operation Twist program ends in June.
It will be a “twist on another twist going forward,” Gross, who runs the world’s biggest bond fund, said from Pimco’s headquarters in Newport Beach, California, during an interview on Bloomberg Television’s “InBusiness with Margaret Brennan.”