Bill Gross Is Betting on a Steeper Yield Curve

Former Pimco chief flags SOFR-contract trades on social media
Joins those betting on a steeper curve as Fed eyes cuts

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By Ye Xie

February 5, 2024 at 6:31 PM UTC

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Bill Gross said he’s betting that part of the interest-rate curve will return to a more normal pattern, eliminating the inversion that’s persisted even after the Federal Reserve stopped raising interest rates.

Gross, the co-founder and former chief investment officer of Pacific Investment Management Co., said on social media X that he’s buying September 2024 contracts tied to the Secured Overnight Financing Rate and selling the September 2025 one.