Gross Says Credit Expansion to Create Inflation, Slow Growth
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Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., said continued credit expansion by central banks will produce accelerating global inflation and slower growth.
Pimco favors shorter duration and inflation-protected debt, as well as dividend-paying stocks with a preference for developing markets, Gross said in his monthly investment outlook posted on the Newport Beach, California-based company’s website today.