Billionaire 'bond king' Bill Gross says soaring Treasury issuance means bond yields can't come down anytime soon

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Billionaire 'bond king' Bill Gross says soaring Treasury issuance means bond yields can't come down anytime soon

Bill GrossPIMCO / YouTube Bill Gross says bond prices will be higher rather than lower in the near term as Treasury issuance surges. The US economy needs a high level of debt to propel the GDP growth, he said. Gross also said the "total return" bond strategy he helped develop in the 1980s is dead.  The high level of US debt issuance signals to investors that they should expect yields to move higher, not lower, according to "bond king" Bill Gross…