Published: March 12, 2019
Gundlach credited the market rebound to the “180-degree turn” from the Federal Reserve. Fed Chairman Jerome Powell recently signaled a “patient” approach to rate hikes and said the central bank is prepared to ‘adjust’ balance sheet unwind if needed. The Fed chief rattled investors in December when he described the balance sheet roll-off as being on “autopilot.”
But the weakening economic data from the U.S. are sending bearish signals. Gundlach, in the webcast, highlighted the deteriorating hard and soft data and the collapse in December retail sales.
The so-called bond king and respected prognosticator on financial markets oversees $120 billion of assets under management.
This is a developing story. Check back for updates.
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