Janus Capital’s bond guru Bill Gross has commented on the Brexit vote.
As of 11:30 p.m. ET, the “Leave” vote has taken an unexpected lead and appears to be on track to win the night. Markets are going wild and the ramifications are just being grasped.
Gross, for his part, appears to be encouraged by the probably result. The former “bond king” had expressed support for the UK to vote to leave the European Union in a tweet earlier Thursday, saying, “Trade benefits labor less than corporations. Immigration benefits corporations more than labor.”
In a tweet from Janus Capital’s account Thursday evening, Gross said that the people in the UK had produced an overwhelming result.
Gross: Populists storm The City’s gates. One person/one vote displaces one Pound/one vote as the new UK mantra. There will be others.
— Janus Henderson U.S. (@JHIAdvisorsUS) June 24, 2016
Essentially, Gross had expressed his skepticism over the free trade and movement allowed by the European Union, saying it benefited corporations rather than workers. In this sense, Brexit will benefit labor over businesses.