The Federal Reserve's loose monetary policies make it difficult for bond investors to make money, said Bill Gross of Pacific Investment Management. Gross said the situation makes the debt of other nations much more attractive than U.S. notes. "Hopefully we'll become optimists," Gross said. "But our sense is to put investors into sovereign credits, namely Germany and Canada and Brazil, where their balance sheets are more pristine and where the outlook in terms of real economic growth going forward is better."

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