Pimco’s Gross Says Fed Will Tighten Policy in 2016 at Earliest

Pacific Investment Management Co.’s Bill Gross said he expects the Federal Reserve won’t tighten monetary policy until 2016 at the earliest.

Treasuries had their biggest two-week gain in almost a year as Federal Reserve Chairman Ben S. Bernanke said the central bank wouldn’t slow its monthly bond-buying program unless economic conditions warrant.