Bill Gross has said there is a "100% chance" of a US rate rise in the last month of the year, as the latest jobs report revealed a surge in employment numbers.
Speaking to Bloomberg, veteran fixed income manager Gross (pictured) said rates are "ready to go" following US jobs data released on Friday. Data from the Labor Department showed the US economy added 271,000 jobs in October, higher than initially expected. The jobless rate fell to a seven-year low of 5%, while average hourly wages also saw the biggest rise in six years. As a result, Gross, who manages the $1.4bn Janus Global Unconstrained Bond fund, said he expected the Federal Reserve to start increasing rates gradually by 50bps-75bps per year, starting this December. Gross to ...
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