Earlier said recommended buying oil ETF XOP, and selling Facebook
- Says regulation of FB is a big event
- There is always more than one cockroach in the kitchen. Another problem will be problematic
- Not worried about 2-10 spread yet
- Worried about Fed making a policy mistake
- The Fed seems to be inclined to tighten until something bad happens.
- Fed attitude is "We will raise rates until it gets worse"
The 10 year yield traded to a high of 2.9957% today. It is currently trading at 2.9677%
Gundlach is speaking at the Sohn Conference in NYC today.
Gundlach wore a purple, corduroy suit. That is a combination which is so wrong, it might be a right (two wrongs make a right?)
Also at Sohn, tech hedge fund guru Chamath Palihapitiya tapped Box as his stock pick for this years conference. Box is trading up $2.10 at 22.75. Facebook is trading down -$0.27 or -0.16%, and the XOP index is trading up $0.14 or 0.39% at $39.00.
Alphabets reports after the close today.
