David Tepper, founder of Appaloosa Management, told Bloomberg Television anchor Stephanie Ruhle in a phone interview today the rally in the bond market is ending after the European Central Bank unexpectedly cut interest rates to spur economic growth and stave off the threat of deflation.
Tepper said, “What the ECB did today was very important. They want growth, an increase in the money supply and inflation. Basically what it all means for the markets is higher equity prices and a beginning of the end of the world bond market bubble…We are done.”
Dov Gertzulin's DG Capital is having a strong year. According to a copy of the hedge fund's letter to investors of its DG Value Partners Class C strategy, the fund is up 36.4% of the year to the end of June, after a performance of 12.8% in the second quarter. The Class C strategy is Read More
He went on to say, “Draghi wants inflation in the Euro zone. He will not stop.”