THE PAIN TRADE

Ahhhhh…. You just have to laugh at Fed officials. Nothing else to do.

In hindsight, it is now obvious that when Bill Gross from Janus, Marc Kasriel from PIMCO and Mohamed El-Erian from Allianz all warned against counting a June Fed hike out, they were doing so after getting whispers in their ear. Unfortunately these illustrious bond managers didn’t hold …