(Reuters) – Donald Trump’s return to the presidency would be a more bearish choice for bond markets, famed bond investor Bill Gross told The Financial Times.
Gross, once the market’s most powerful voice, predicted to the newspaper that a second Trump presidency would produce a larger budget deficit than President Joe Biden’s re-election.
“Trump is the more bearish of the candidates simply because his agenda advocates further tax cuts and more expensive things,” Gross said. He said the Biden administration also spent far more money than it raised in taxes, but that “electing Trump would be more damaging.”
Gross, once known as the “Bond King,” founded fixed-income giant PIMCO.