October 9, 2017 / 8:18 PM / a year ago

Bill Gross of Janus says 'I think we have fake markets'

NEW YORK, Oct 9 (Reuters) - Influential bond investor Bill Gross of Janus Henderson Investors said Monday that financial markets are artificially compressed and capitalism distorted because of the U.S. Federal Reserve.

"I think we have fake markets," Gross said at a Janus Henderson event. Investors should brace for higher Treasury bond yields as the Fed begins to unwind its quantitative easing program but that yields will edge up "only gradually," Gross said. (Reporting by Jennifer Ablan; Editing by Andrew Hay)

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