Bill Gross Thinks China is the Real Elephant in the Room
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Trouble in Greece may be getting all the headlines, but bond king Bill Gross of Pimco thinks the real elephant in the room is China. Today he said he thinks China may cause a far bigger headache as growth slows.
Earlier this week, HSBC's Flash China PMI came in at 48.7, well below analyst expectations. HSBC PMI measures manufacturing in the private industry in China. A reading above 50 signals positive growth, but it has been seven months since China PMI hit those levels, causing concern that the slowdown in China is worse than previously thought.
Bill Gross manages the Total Return EFT (NYSE: BOND).
Earlier this week, HSBC's Flash China PMI came in at 48.7, well below analyst expectations. HSBC PMI measures manufacturing in the private industry in China. A reading above 50 signals positive growth, but it has been seven months since China PMI hit those levels, causing concern that the slowdown in China is worse than previously thought.
Bill Gross manages the Total Return EFT (NYSE: BOND).
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William H. Gross, Pacific Investment Management Company, LLC (PIMCO), HSBCSign up for StreetInsider Free!
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