Bill Gross Interview on CNBC This Morning

8:40 AM 12/3/2008
interview with bill gross @ PIMCO coming up next.
8:43 AM 12/3/2008
you're back into stock forecasting business again
stocks -- not our world anymore
past 50 yrs was based on a leveraged economy
about to reverse
intergenerational change
10 yr bond now at 2.7%
corp yields make corp bonds attractive
bonds "A" rated yields 6-8%spreads 5 more than treasuries and very attractive
we haven't been buying govts.
what doing now
not buying hwp bonds yet
banks which have benefited from TARP capital
morgan stanley bonds can be bought can be bought at 6-8% yield
Aaron: title of your piece is "Dow 5000"
not predicting this, but...
govt needs a 4 1/2 to 5% on the 30-yr fixed mortgages so that rate should come down to that