U.S. stocks fell in midday trading Friday after a brand-new survey by London paper The Independent showed 55 percent of British resident’s favor leaving the EU. The vote is set up for June 23. The pound fell against the euro, along with against the dollar.
Gross, who runs the $1.4 billion Janus Global Unconstrained Bond Fund, stated the possibility of a Brexit is just another element that does not prefer threat assets.
"Risk assets are dependent upon development, they're dependent upon even in the high-yield market on relative stability and to the degree from a geopolitical viewpoint that growth is threatened then run the risk of possessions are at danger," he stated.
As one result ends up being more probable than the other, then money is moved around quickly and causes volatility and instability, added Gross.