GUNDLACH: It's going to be a rocky summer
DoubleLine CEO Jeff Gundlach delivered his latest presentation on markets and the economy on Wednesday.
Here were the main points:
- A summer sell-off is coming, and will be triggered in part by rhetoric around Donald Trump’s possible election win. It will be a buying opportunity.
- Negative interest rates are not working and are having the opposite effect on currencies, stocks and the economies using them.
- Gundlach’s favorite recession indicator, and a few others, say there’s no cause for alarm right now.
- A "Leave" vote in the British referendum would have a ripple effect on the eurozone and mark the beginning of its end.
He reiterated his call against higher rates, and again noted the disconnect between Federal Reserve expectations and where the bond market is.
Here are highlights from the presentation:
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