Gross: Bond liquidity problems 'scare the hell out of me'

Veteran fixed income manager Bill Gross has admitted he is frightened by the lack of liquidity in bond markets.

The manager (pictured), who left his position at PIMCO last year after more than 40 years, runs the Janus Global Unconstrained Bond fund which has over $1.5bn in assets. But despite his decades-long experience in bond markets, Gross has admitted he is spooked by the liquidity problems causing upheaval in fixed income. Speaking to Bloomberg, he said: "I recognize the tremendous liquidity problems and the ups and the downs on a daily basis, or even on a minute basis, and it scares the hell out of me." The sell-off in bonds has seen US treasuries approach their biggest quarterly loss ...