Bill Gross says bond market ‘no disaster,’ sees 10-year yield at two per cent

Bill Gross, co-founder of Pacific Investment Management Co., in Beverly Hills, California, U.S., on May 25, 2016.Bill Gross, who has likened bonds to “garbage,” said a bear market in Treasuries is “no disaster.”Article content

In his latest investment outlook, in which he varied from ranting about his legal troubles to offering retail investors trading advice, the 77-old onetime bond king reiterated his view that 10-year yields are likely to rise to two per cent over the next 12 months, from the current level around 1.6 per cent. Even if bonds are likely to suffer losses, they still have a role to play in one’s portfolio given the economic uncertainties, he said.

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