Posted 12/1/2023, 8:24:08 PM
Bond King Scores Big with $5+ Million Interest Rate Bet
- Bill Gross made a profitable bet in October that interest rates would fall, buying interest-rate futures that have surged with the bond market rally
- The bet has likely netted over $5 million in profits so far and is still active
- The bond rally has been fueled by cooling economic data and dovish Fed comments indicating future rate cuts
- Gross earned the "bond king" moniker while at PIMCO, where he managed over $290 billion at the firm's peak
- His opinions still draw major interest given his past prominence, whether people want tips or enjoy his failures