Bill Gross Says This Could be More Important than $60 Oil or Dow 20K

Bill Gross says the yield on the U.S. 10-year Treasury note is the barometer to watch in 2017. Investors have moved from the relative safety of government securities into equities that offer the promise of higher returns if Donald Trump succeeds in stimulating growth and scaling back regulations that he says have hampered the U.S. economy. 

"President-elect Trump tweets and markets listen for now," Gross said, but ultimately further expansion outside of bond markets will depend on whether the real estate mogul and his Republican majority in Congress succeed in boosting economic growth from the 2% rate of the past decade to 3% or more, which would fuel corporate profits.

This article was written by a staff member of TheStreet.