President-elect Donald Trump's plan to reduce taxes and increase infrastructure spending is unlikely to bolster economic growth or equities, said Bill Gross, manager of the $1.68 billion Janus Global Unconstrained Bond Fund. “There is no new Trump bull market in the offing. Investors must drive with caution, understanding that higher deficits resulting from lower taxes raise interest rates and inflation, which in turn have the potential to produce lower earnings” and price/earnings ratios. Read the original story from Bloomberg.