Bill Gross announces AGNC position, says ‘be defensive’

Investor Bill Gross said via X: “Investing? I cautioned last time about MLP pipelines topping – they have but much better performing than tech. I hold 40% positions still. Interest rates? Economy slowing-tariff uncertainty is bearish – I own mtge pass-thru REITs like AGNC yielding 13% that will do well at 4.25 on the 10 year but it’s hard to believe that yields go lower without visible progress on inflation. Frankly I am frightened every morning to wake up at 5:30 PST and see what the day brings – markets and otherwise. Be defensive.”