Bill Gross: Don't go near high risk markets, stay plain vanilla

Gross (pictured) said central banks across the world are making the same mistake in thinking lower interest rates will lead to stronger growth. His criticism follows a surprise interest rate cut into negative territory by the Bank of Japan late last month. Meanwhile, the US Fed has temporarily hit the pause button on rate rises, after raising them by 25bps at the end of 2015. Commenting on the latest developments, Gross said: "They all seem to believe that there is an interest rate so low that resultant financial market wealth will ultimately spill over into the real economy. "I...