“Bond King” Bill Gross may have netted millions of dollars backing the November rally in the U.S. Treasury market.
Gross earned his “bond king” moniker while at Pacific Investment Management (PIMCO), a company he co-founded and where he managed the $270 billion Total Return Fund.
Now, as a private investor, Gross no longer controls the world’s biggest bond fund, but he still knows his way around the market. In October — while Treasury yields were at, or close to, 16-year highs — Gross predicted a turnaround in the market and placed his bets.
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Higher For Longer, No More
In October, Gross announced on X that he was buying Secured Overnight Financing Rate (SOFR) ...