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Klotz on Bonds
Is there a port in the bond storm?
That was the question a CNBC reporter posed to Pimco’s Bill Gross, known as the “bond king.”
In an interview last week, the reporter, noting a tough week for Treasuries, asked Gross where investors could make money in the next several years in a low-return environment.
“I think in the bond market … the best values are in municipal bonds,” Gross said, “and for the primary reason that municipal prices never reached the point of exuberance that Treasuries did.”
Please note that all investing entails risk. Fixed income securities are subject to risks that will affect their value prior to maturity. Some of these risks can be related to changes in market conditions, issuer creditworthiness, and interest rates. This commentary is not a recommendation to buy or sell a specific security. All references to tax-free income refer to U.S. federal income tax. Income earned by certain investors may be subject to the Alternative Minimum Tax (AMT), and or taxation by state and local authorities. Please consult with your tax professional prior to investing. For more information on these topics please click on the “Bond Basics” link below or search by keyword at the top of this page.
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