Paul McCulley Quotes

The lion's share of the bear market is over... It's a two-part issue. Yes, the marketplace could be nasty. But there's a great deal of nastiness that's already happened in the bond market.

- Paul McCulley

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The bond market is debating with itself what the intent of the Fed is. I don't think the Fed has a multi-step process. They are taking it step by step. - Paul McCulley

The sheer act of tightening will be viewed in the bond market as the sun coming up in the East. - Paul McCulley

Remember, benchmark performance -- beta -- can be had for virtually free; alpha is what active managers are paid to generate. - Paul McCulley