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.”
Carlson Capital's Double Black Diamond Fund returned 85 basis points net in August, bringing its year-to-date net return to 4.51%. According to a copy of the fund's September update, which ValueWalk has been able to review, its equity relative value and event-driven strategies outperformed during the month, contributing 131 basis points to overall P&L. Double Read More
He went on to say, “Draghi wants inflation in the Euro zone. He will not stop.”