Pacific Investment Management Co.Ã¢â‚¬â„¢s Bill Gross said the Federal Reserve is unlikely to raise interest rates for two to three years.
Gross, PimcoÃ¢â‚¬â„¢s founder and co-chief investment officer, made the comments in a radio interview today with Tom Keene on Bloomberg Surveillance. A yield of 0.50 percent on two-year Treasury notes signals that investors should buy longer-maturity securities, he said.
Companies in the U.S. added workers in July for a seventh straight month at a pace that suggests the labor-market recovery will be slow to take hold.
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