Appaloosa’s Tepper Says Bond Rally Is Ending as ECB Cuts
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David Tepper, founder of $20 billion hedge-fund firm Appaloosa Management LP, said the rally in the bond market is ending after the European Central Bank unexpectedly cut interest rates to spur economic growth and stave off the threat of deflation.
“It’s the beginning of the end of the bond market rally,” Tepper, 56, said in a telephone interview. “We are done.”