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Gross Says ‘Mistake’ to Bet Against Price of U.S. Debt, FT Says

Pacific Investment Management Co.’s Bill Gross said it was a “mistake to bet so heavily against the price of U.S. government debt,'' the Financial Times reported, citing an interview last week. Gross said he wishes he’d invested in more U.S. government debt and that he was wrong to think ‘‘that the U.S. economy can chug along at 2 percent real growth rates,’’ the FT said. ‘‘The U.S. and developed economies are near the recessionary dividing point,’’ Gross said, the FT reported.

To contact the editor responsible for this story: Blanche Gatt at bgatt@bloomberg.net

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