Gross Says U.S. Recession Odds May Be 30% to 50% Post-Brexit
- Vote marks ‘end of globalization as we know it,’ manager says
- Yield on 10-Year U.S. Treasuries may drop to 1.25%, he says
Bill Gross Talks Brexit, Bonds, and Central Banks
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The odds of a U.S. recession may be as high as 50 percent following last week’s vote in the U.K. to exit the European Union, according to Bill Gross, manager of the Janus Global Unconstrained Bond Fund.
The yield on 10-year U.S. Treasury bonds may fall to 1.25 percent from about 1.45 percent on Monday, Gross said during an appearance on Fox Business Network. The lower yield would still be attractive to investors compared with negative interest rates in Japan or Germany.