The three-decade bull market for bonds is nearly over, says bond market legend Bill Gross, co-chief investment officer of Pimco.
“We have been close [to the end] for a number of months,” he tells Yahoo.
Long-term U.S. bond yields across different categories are a little higher than 2%. So unless the United States turns into Japan, where yields have dropped to 1%, U.S. yields are close to a bottom, Gross says.
“It doesn’t mean the beginning of a bear market, but it does suggest at least that the great bond bull mark since 1981 is probably over.”
To be sure, Gross, who manages the world’s biggest bond fund, Pimco Total Return, is still…