(Bloomberg) Investors should turn toward havens like bonds and away from stocks as markets sort through the repercussions of the U.K. referendum to exit the European Union, according to money managers Bill Gross and Dan Ivascyn.
“Obviously safe-haven bonds instead of equities will benefit,” Gross, manager of the $1.4 billion Janus Global Unconstrained Bond Fund, said in an e-mail. “Global economies may quickly molt their free-trade skins and immigration policies are at risk.”
