Bill Gross Scales Back Bund-Treasury Bet That Led to Quarterly Loss
This article is for subscribers only.
Bill Gross says he scaled back his wager that yields on U.S. Treasuries and German Bunds would converge after the position led to losses in the second quarter.
“Although we maintain our convergence view, during the latter part of the period, we scaled back our positioning in recognition of the factors that have kept a steady bid on Bund prices,” Gross wrote in a second-quarter fund commentary posted Monday on the website of Janus Henderson Group Plc.