Bond guru Gundlach is sounding the alarm on a U.S. recession and betting on gold
Investors seem eager to insure themselves against geopolitical tensions that have flared up in the Middle East and Hong Kong this week, with gold vaulting on Friday. Meanwhile, U.S. technology stocks might not win any popularity contests as a red flag cropped up over how the trade war is biting that industry.
Providing our call of the day, Gundlach predicted a 40% to 50% chance of a U.S. recession within the next six months and a 65% chance of that happening in the next 12 months, in a webcast to clients late Thursday, according to a roundup of his comments from Reuters and other media outlets. He said signs of a slowdown on the global economic front are also a worry.The so-called bond king and closely watched market forecaster isn’t the only one starting to fret.
As for where Gundlach is putting his money, he said he is “certainly long gold,” given expectations the dollar, which stands to take a hit if the Fed lowers interest rates, will close the year weaker. The economy Important retail sales data is on tap, followed by industrial production and capacity utilization, then the University of Michigan’s consumer sentiment index and business inventories. See our preview here.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bond king Jeffrey Gundlach: 'I am certainly long gold'Jeffrey Gundlach is betting on gold, as he expects the dollar to finish the year lower.
Read more »
Bond guru who called interest rate top in 2018 now says yields could fall furtherSchwab fixed-income strategist says low economic growth, demographics will keep rates down, writes Howard Gold.
Read more »
Paid Program: These Are the Forces Driving the Bond RallyThe yield curve is signaling that U.S. and global economic growth is decelerating, but at this point forecasting an imminent U.S. recession seems a stretch.
Read more »
Everything to Know About Bradley Cooper and Lady Gaga's FriendshipWith both Bradley Cooper & Lady Gaga now being single again, some fans are revisiting the 'A Star Is Born' co-stars' close connection.
Read more »
Bond yields slip, stocks suffer on cooling China dataWorld stocks struggled and safe haven bets were back in play on Friday with Germ...
Read more »
Dr. Barbara Sturm Is Opening a Store—Run, Don't WalkLast night New York's finest gathered to toast Sturm at her new space off Bond Street.
Read more »