Heard Bill Gross today on CNBC. He said that bonds are fully valued. Stated that stocks are overvalued and could still fall to 5000 on the Dow, but he didn't sound as sure of that as privously. He also said that he thought (and this is the surprise) the FED would be successful in reinflating the economy. No deflation. He didn't mention PM's.
It was a stunner and goes against everything I'm seeing in the economy. Wonder what Gross knows and how he knows it.
Richard W.