Neither Hurricane Sandy nor the election will make much difference for the country's stunted economic growth, Bill Gross, Pimco co-chief investment officer, told CNBC's "Street Signs" on Thursday.
Pimco estimates that the effect of Sandy is a $20 billion to $30 billion economic loss, which would subtract one-half of one percent from economic growth in the fourth quarter.
But much of that loss will be made up in subsequent quarters as the affected areas rebuild, Gross said.
In the end, Gross expects Sandy to be a wash for both the stock and bond market.
"The bigger impact will be on the election and therefore the fiscal cliff," he said. Going over the cliff would slash one percent off economic growth, he warned.