Bill Gross’s Janus Unconstrained Bond Fund Drops Sharply

Bill Gross’s flagship fund dropped more than 3% Tuesday, an unusually big decline for a bond fund in just one day, and a sign of how the shockwaves from this week’s sudden moves in European markets are reverberating.

The Janus Henderson Global Unconstrained Bond Fund may have been wrong-footed by a bet that German bond prices would fall relative to their Italian counterparts, analysts said.

Instead,…

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