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The same day, a rise in interest rates on bellwether short-term Treasury bonds raised fear that economic recovery would take longer than the Government has predicted.
Mr. Gross said he had been buying long-term Treasury bonds because their yields looked considerably more attractive than those of short-term Treasury bonds.
The Baku Stock Exchange, known as the BSE, opened in 2001 trading short-term treasury bonds and the common stock of recently privatized state-owned enterprises.
BSE trades short-term treasury bonds, common stocks (primarily from former state-owned enterprises that have been privatized, including food and beverage, construction and banking companies), and foreign currency futures.