Gross: There will be no 'fairytale ending' for markets

Veteran bond investor Bill Gross has questioned the possibility of a "fairytale ending" for markets as they spiral towards lower returns and lack of liquidity.

Gross (pictured), who recently left his high profile role as CIO of PIMCO for smaller investment firm Janus Capital, said policymakers are failing to cure a debt crisis with more debt. "It is difficult to envision a return to normalcy within my lifetime," he said. "I suspect future generations will be asking current policymakers: How could they?" Gross said, over the last five years, central bankers have struggled to mend the economy through loose monetary policy. "How could policymakers have allowed so much debt to be created in the first place, and then failed to regulate their o...