Gross Warns That Trump Rally Built on False Promise of Growth
- Bond fund manager says investors should move to cash
- 10-Year Treasuries may near 2.5% by end of this month
Gross: Trump Tax Plan Does Nothing for Main Street
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Bill Gross isn’t buying the Trump rally and the prospects for growth driving it.
As President-elect Donald Trump’s economic team takes shape, led by Treasury Secretary nominee Steven Mnuchin, investors are misguided in betting that promised tax cuts, infrastructure spending and deregulation will spur faster growth, according to an e-mail Thursday from Gross, the billionaire bond fund manager. He said the benefits from such fiscal stimulus likely would be temporary.