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"Bond King" Gross: Value will win over growth in the long term unless AI can create a new era of productivity.
Bill Gross says if artificial intelligence-related companies can increase the productivity of the United States from the historical level of 1-2% of the past few decades to 2-3%, growth stocks may significantly outperform value stocks. But he thinks this is still a bet and advises investors to hold both value and growth stocks and not let any one stock dominate.
US Dollar Index Moves Above 104.00 as Yields Recover, ISM PMI Awaited
Fed's Move Toward Rate Cut Supports Bond Market
Expectations of a Fed rate cut in September drove the rise of US bond at the end of the month, pushing the US bond yield to a low of over 4 months.
On Wednesday, the US Treasury bonds rose after Federal Reserve Chairman Powell indicated that the earliest interest rate cut could be in September. This rise has continued for three consecutive months, marking the longest continuous rise in US bonds in three years.
US Treasury Yields Plunge as Fed Holds Rates, Powell Hints Focus on Jobs Market
Express News | US July ADP Nonfarm Employment Change +122000 Vs +147000 Forecast, Prior +150000