DoubleLine's Gundlach says Fed's 'pivot' is following bond market's lead

FILE PHOTO: Jeffrey Gundlach, CEO of DoubleLine Capital LP, presents during the 2019 Sohn Investment Conference in New York City, U.S., May 6, 2019. REUTERS/Brendan McDermid

The Fed is doing “what the bond market says - with a lag,” said Gundlach, who oversees more than $130 billion in assets. “The bond market definitely helped to encourage the ‘Fed pivot.’” In a telephone interview with Reuters, Gundlach said economic data would have to be weak for the Fed to slash rates in July. If policymakers do cut rates next month, “They are basically admitting they are behind the curve,” he said.

...so is this a good or bad thing? WhatToDo

Manipulation by a subservient Fed chairman. Surprised he didn't cut rates today. Must be other voices on the board. Give us Janet Yellen back!

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