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…..
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