Gross isn’t buying corporates, high yield or equities even with zero rates

"This is what’s called an asset-based recovery and is exactly the same model we followed in 1992 and 2002. the Federal reserve lowers rates so much that the cash in your pocket burns a hole in it. Grandma may be stuffing her dollars in a mattress, but investors judged against an investment benchmark get fired if they don’t seek returns. how did Chuck Prince put it: When the music’s playing…"