From Bloomberg: Bond guru Bill Gross has spoken: he expects stocks and bonds to return less than 5 percent in 2013 as high unemployment persists, he wrote in a Twitter post.
The message from Gross, manager of Pacific Investment Management Co., the world’s biggest bond fund, affirms what he wrote this month in his December investment outlook.
Newport Beach, Calif.-based Gross wrote yesterday in the post: “2013 Fearless Forecasts: 1) Stocks & bonds return less than 5 percent. 2) Unemployment stays at 7.5 percent or higher. 3) Gold goes up.”
US bond markets are scheduled to close early today and remain shut on Jan. 1 for the New Year’s Day holiday. Stock trading in New York will be closed tomorrow…..