Billionaire"bond king" Jeffrey Gundlach expects the stock market to fall from its"lofty" perch as he warned of corporate credit downgrades and a rise in white-collar layoffs on Tuesday.
"I certainly do expect that Jay Powell would follow through on controlling the yield curve should the 30-year rate really get unhinged," Gundlach said.The stock market is likely to fall from its"lofty" perch alongside waves of corporate credit downgrades and white-collar unemployment, Jeffrey Gundlach, founder and chief executive of DoubleLine Capital,Describing the market as overinflated, he said he thinks the market falling is a"pretty good bet.
"What people may have learned for white-collar services jobs in particular during the work-from-home lockdown situation ... I kind of learned who was really doing the work and who wasn't really doing as much work as it looked like on paper that they might have been," he said. Gundlach also said that traders think Powell is"Superman," and that the chairman will keep the fed funds rate at zero for the next two years.
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It's a False-Dawn economy!
No! Stocks only go UP!
Every asset bubble has a breaking point.
Wow, I predict it will go up, I predict it will fall. Either choice you're always right, it is all a perspective of the window of time.
Burundi President Pierre Nkurunziza, 55, died last night from and cardiac arrest, the. First Lady Denise was airlifted to Nairobi 10 days ago, reportedly ill with coronavirus leading some to speculate Nkurunziza too might have been infected Covid_19
Everyone has an opinion. 🙄
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