Brendan McDermid/ Reuters
Billionaire “bond king” Jeffrey Gundlach expects the stock market to fall from its “lofty” perch as he warn against corporate credit downgrades and a rise in white-collar layoffs on Tuesday. Gundlach said merchants remember the Federal Reserve chairman Jerome Powell is “Superman, ” and he is expected to keep the fed money rates at zero for the next two years. His notes came ahead of a much-anticipated key policy meeting on Wednesday that will determine future guidance, justify primary street lending facilities, and is expected to touch upon the US complains. “I certainly do expect that Jay Powell would follow through on controlling the yield curve should the 30 -year rate actually get unhinged, ” Gundlach said. Visit Business Insider’s homepage for more tales.
The stock market is likely to fall from its “lofty” perch alongside ripples of corporate credit downgrades and white-collar unemployment, Jeffrey Gundlach, founder and chief executive of DoubleLine Capital, said in a webcast on Tuesday.
Describing the market as overinflated, he said he guesses the market falling is a “pretty good bet.”See the rest of the narrative at Business Insider
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