Investment icon Gross is bearish on stocks, but here are two he likes

The legendary bond investor Bill Gross isn’t looking for the climb to resume anytime soon. The S&P 500 has ascended 11% year to date.“A new bull market? Can artificial intelligence and $2 trillion fiscal deficits going forward validate that ‘it’s different this time?’”

Gross doesn’t believe Powell will be “willing or able to lower short rates significantly in the face of a 3% inflation future.” So, “I’d pass on stocks and bonds in terms of future total returns,” he said.He also likes oil-and-gas pipeline master limited partnerships, due to their favorable tax treatment for investors. To be sure, MLP prices are “a little toppy, due to oil prices that seem vulnerable to the downside,” he said.

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