To see the other side of the argument, check out Bill Gross’s latest Investment Outlook. He calls the end of the bond bear market and gives some good background on why he thinks so.

Recession/no recession is really a faux decision to be entertaining at bond market turning points. Any number of cyclical histories point toward bond market prices bottoming ? and the Fed peaking ? as the economy downshifts into second or first gear as opposed to breaking to a full stop.

Gross obviously benefits from calling a bond bull market (he manages bond funds after all) and he is not typically going too far astray from mainstream ideas… but he’s a big thinker and manages over $500 billion for a reason.

You can invest with Gross via PIMCO or via the much-less-well-known Managers Bond Fund (MBDFX). Managers basically invests in the same things as the PIMCO funds, but gets away with charging much lower fees because they don’t advertise… if you’re looking for a bond fund, Gross and his team do very well.

Managers was formerly known as the Fremont Bond Fund until they changed the name last year. For gambling buffs, that’s Fremont with one ‘e’, like the casino where Gross played blackjack back in the day.