Janus Capital shorts pay off

31 July 2015

 

Last week Bill Gross, the former chief of PIMCO and now lead portfolio manager at Janus Capital, said the Unconstrained Bond Fund he runs had profited from staying away from high-yield bonds and in some cases shorting the High Yield CDX, which is an index of 100 liquid North American entities with high yield credit ratings traded in the credit default swap market. He said a falling Chinese stock market...

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