Bond King sounds warning on Trump

Famed bond investor Bill Gross said that a Donald Trump victory in the US presidential election would be more disruptive for bond markets than a Joe Biden win, according to the Financial Times.

A second Trump presidency would push deficits higher than re-electing President Joe Biden, which would be the more "bearish" choice for bond markets, said Gross in an interview with the newspaper.

"Trump is the more bearish of the candidates simply because his programs advocate continued tax cuts and more expensive things," Gross said.

He said Biden's administration, too, has spent far more money than it has taken in through taxes, but that "Trump's election would be more disruptive."

Investors are weighing how the upcoming November elections could impact markets, as both candidates relay their campaign messaging on the economy.

Gross, once known as the "Bond King," founded fixed-income giant Pimco.