Bill Gross's bet on the US bond market has yielded a substantial profit, with short-dated interest-rate futures tied to the Secured Overnight Financing Rate (SOFR) experiencing a significant rally. This surge is attributed to cooling jobs data, soft consumer inflation figures, and dovish comments from Fed Chair Jerome Powell, leading to the pricing in of about 1.1 percentage points of policy easing for 2024. Hedge funds and JPMorgan Chase & Co.'s active Treasury clients have also been accumulating long positions in SOFR contracts, reflecting a bullish sentiment in the market.

Bill Gross's Bond Market Profit