Janus Capital's Bill Gross talking Fed

Bill Gross was on Bloomberg TV after the jobs report and said the Fed is still likely to hike twice this year. He said the first rate rise is likely to come in June.

After the jobs report, the Fed funds futures market is still only pricing a 28% chance of a June hike and only a 61.7% chance of a hike this year. That's up from 20% and 54.4% from yesterday but if Gross is right, that's a lot of room for the dollar to run (and bonds to fall).

At the moment, the risk of a Fed hike is hitting commodities and commodity currencies.