Legendary investor sees recession by year end ...Middle East

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Legendary investor sees recession by year end
Bill Gross, the co-founder of Pacific Investment Management Co. (PIMCO), predicted that the United States will be in a recession by the fourth quarter. Gross said that he will buy futures that are connected to the Secured Overnight Financing Rate (SOFR). The Federal Reserve of New York defines the SOFR as “a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities.” “Regional bank carnage and recent rise in auto delinquencies to long-term historical highs indicate U.S. economy slowing significantly. Recession in 4th quarter,” he wrote on X, the platform formerly known as Twitter. He also said that the “best investments” right now are equity arbi

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