Gross: I wish I had more US treasuries

PIMCO bond fund manager Bill Gross has acknowledged he made a mistake in betting so heavily against US government bonds earlier this year.

Gross said he had since altered his position on US treasuries during an August in which the yield on 10-year treasuries dipped below 2%, a modern-era low. "Do I wish I had more treasuries? That's pretty obvious. I get that it was my/our mistake in thinking that the US economy can chug along at 2% real growth rates. It does not look like it can," Gross told the FT. "We have moderated [our position] based on the outlook for the US economy, based on what Bernanke has done at the Fed in the last month." Earlier this month the Fed committed to keeping rates on hold until well into 2013,...