Puerto Rico Default Bruises Dollar, Boosts Gold

by Daily Bell Staff
The Daily Bell

Scott Minerd, global chief investment officer of Guggenheim Partners, said on Wednesday it is a good time to dip into U.S. Treasuries in the wake of their sell-off. “It is impossible to get the timing of anything exactly right. You have to ask yourself, ‘Are you a speculator or an investor?’” -Reuters

Puerto Rico is about to default on bond obligations today, but some of the largest bond funds in the world are starting to “nibble” on Treasuries again.

This is after an April sell-off that The Wall Street Journal and other publications attributed to “improving sentiment toward the global economic outlook sapp[ing] demand for haven debt.”

Over the past few weeks, investors have been easing up on government bonds and buying riskier assets: stocks, oil, junk bonds and emerging-market equity and bonds.

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