“Until May, we were in the neutral to bearish camp,” Gross told a Chicago auditorium jam-packed with fund managers and financial advisers. “But now we think over the next three to five years, disinflation ultimately triumphs.”

Bill Gross of Pimco, a formerly heroic bear, turned bull a while back. Now he sounds a bit like Larry Kudlow, Jr. these days. All hail US debt.

With the U.S. economy looking weak, Gross says he — along with the rest of the world — will be a buyer of Treasury bonds.

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