Boy, they really know how to stay "on message" over there at Pimco, their efforts to lower expectations for one of the most powerful stock market rallies in history perhaps beginning to bear fruit today as equities are not off to a very good start in September.
He goes on to talk about how the New Normal relates to a new climate for investors recommending that we should all "shake hands with government policies", something Pimco has been quite proficient at over the last couple years.
Related http://www.allianzinvestors.com/commentary/mgr_billGross09012009.jsp
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