PIMCO's Incredibly Embarrassing Tweet

Come on, PIMCO, really!?

The above tweet from bond house PIMCO couldn't be more wrong.

If China wants to weaken its currency, then it could print lots of yuan and use then to use them to buy Treasuries.

If it wants to strengthen its currency, then the play is to print fewer yuan and buy fewer Treasuries.

This is basic stuff, and the only question is whether whoever did that tweet mis-quoted Bill Gross, or whether Bill Gross actually said that (hopefully the former).

This random tweet coming on a Saturday afternoon won't really matter much, but coming after the ouster of the economist El-Erian, leaving only Bill "Secretariat" Gross does not inspire confidence.