] Bill Gross
believes Federal Reserve
chairman Ben Bernanke
will signal an extension of the bond-buying program as he delivers his speech in Wyoming this Friday, but DoubleLine Capital's
] Jeffrey Gundlach
During an interview with CNBC
, Gross said, "I think either at Jackson Hole or two weeks later, at the next Fed meeting, that we're going to see policies where checks will be written and Fed balance sheets expanded."
He also warned that Bernanke's speech could be a "snoozer." (Apparently, the Fed chair is not as popular in the Gross household as Paul Ryan.)
Gundlach, on the other hand, told Reuters
, "An actual massive bond buying program could take the ten-year down to pretty much as low as the Fed wants it. I don't see that in the near term, however."
Gross also told CNBC
that another round of easing is "almost a done deal," seeing that the goal of the Fed is to achieve sustainable growth.
Gundlach also reiterated his view on the ten-year Treasury yield, which he mentioned in a July 12 webcast.
"I doubt the low in yield of 1.39 percent reached about a week after this statement will be breached to the down side based on QE3/Jackson Hole 'excitement'," he added.
The ten-year low fell to 1.39 percent on July 24, and stood at 1.66 percent on Wednesday.
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