We might be at the very end of this economic cycle, and the remarks by legendary investors Carl Icahn and George Soros signal it, said Jeff Rosenberg, BlackRock's chief investment strategist for fixed income.
"I think the message there is that this is a very late part of current cycle. Nobody knows how far that cycle will go, but it's clear that you're seeing many signals," Rosenberg said Thursday, on CNBC's "Squawk on the Street." "You're seeing them in the fixed income markets, you're seeing it in the credit markets, you see it in profits, in the equity markets — that this is the later part in the economic cycle."
Soros, according to The Wall Street Journal, came out of trading retirement with a series of very bearish bets, selling equities in favor of gold and gold miners' stocks. Icahn, meanwhile, said Soros' strategy made sense as equities had been falsely propped up.
U.S. equities traded mostly lower Thursday, while gold futures for August delivery rose $10.40 to $1,272.70 an ounce. U.S. Treasury yields continued to fall, with the benchmark 10-year yield holding near 1.67 percent.