PIMCO's Gross tips non-US dollar debt

PIMCO's CIO Bill Gross has recommended investors look to non-US dollar bonds on the view the US dollar will continue to devalue.

Gross, the manager of the world's largest bond fund, told Bloomberg investors should consider bonds denominated in currencies that will hold their value, such as the Canadian dollar, Mexican peso and the Brazilian real. The bond guru also prefers floating-rate bonds and playing credit spreads over investing in fixed-rate bonds as he believes interest rates will continue to rise. Gross’ opinions are based on his belief US economic policy is misguided, following President Obama’s recent plan to boost the economy in the short term through income tax cuts, a payroll tax cut and unemployme...