The odds for one increase were as high as 42 percent last Friday after Yellen said in Jackson Hole, Wyoming, that the case for higher rates had strengthened. The probability of a single boost by year-end stands at 60 percent, with the calculation assuming the effective fed-funds rate will average 0.625 percent afterward.
Gross’s $1.5 billion Janus unconstrained fund has gained 5.5 percent in the past year, outperforming about 85 percent of its peers tracked by Bloomberg.
This article was provided by Bloomberg News.