‘Bond king’ Bill Gross says stock market’s record-setting run will slow

Dow Jones / Market Watch with the comments from ex-PIMCO Bill Gross, known as the “bond king.”

• suggests that the biggest gains from the U.S. stock market’s historic bull run are likely behind us
• anticipates that the S&P 500 will produce modest, low-single-digit returns for the fourth quarter of 2024 and beyond

Advises investors to favour more defensively oriented stocks (those offering high dividend yields)

• a relatively low allocation to bonds (Gross has warned in the past that Treasury yields could move higher as large budget deficits force the U.S. Treasury to continue increasing issuance)

This article was written by Eamonn Sheridan at www.forexlive.com.