The world’s most-influential bond market might just be in Frankfurt. As speculation deepens the European Central Bank will start quantitative easing just as the Federal Reserve ends its own bond buying, Europe is gaining more leverage over investors globally as the specter of deflation in the region unleashes greater demand for fixed income. The gravitational pull exerted by German bunds may blunt any jump in yields as the Fed moves to lift U.S. interest rates for the first time since 2006. None other than Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., said on Aug. 20 the ... (full story)