Bill Gross says financial markets now a casino

Global central bank policy makers have turned world financial markets into a casino because of their unprecedented monetary policies, bond investor Bill Gross of Janus Capital Group said on Tuesday.

"Our financial markets have become a Vegas/Macau/Monte Carlo casino, wagering that an unlimited supply of credit generated by central banks can successfully reflate global economies and reinvigorate nominal GDP growth to lower but acceptable norms in today's highly levered world," Gross said in his latest Investment Outlook titled "Doubling Down".

Reuters