The bond market was thrown into a state of confusion early Friday following the announcement of Mr. Gross' resignation, but we are talking here of the departure of one man from one fund, whose influence had been waning for quite some while as his asset base was falling.
The bond market is collectively wise enough to accept Mr. Gross' departure from Pimco and 'get-on-with-it' without undue problems
That which gets sold in the coming weeks is probably to be bought and that which is bought should probably be sold as the bond market seeks 'in medias res' over any modest protracted period of time.