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Gross Says Structural Headwinds to Dominate After Election

Pacific Investment Management Co.’s Bill Gross said structural headwinds will dominate the economic debate no matter who wins the U.S. presidential election.

“The structural headwinds in terms of economic growth, the budget deficit, the fiscal cliff” will dominate political discourse, Gross, who runs the world’s biggest bond fund, said in an interview on Bloomberg Television’s “In the Loop” with Betty Liu. “It means lower growth. The structural issues are really related to an excessive amount of debt, an excessive amount of leverage that’s been built up over 10 or 20 years.”