Adds Fed raising rates will hurt economy
Jeffrey Gundlach, from Doubleline, is giving a live webcast. He is saying that the US dollar will continue to rise but that the Fed raising rates will hurt the economy.
He adds:
- euro bond yields likely to fall
- a limited amount of sovereign bonds will keep a lid on rates
- US CPI negative. If using euro CPI definition
- euros on CPI definition excludes shelter
- don't go short the dollar. The consensus is right
- The stock market is saying the strong dollar rise may not be a good thing
- Does not see inflation as a problem
- The fed my regret raising interest rates, and could even end up reversing its policy
- Gold is being supported by a central bank buying
- Gold could reach 1400 (Gold is currently at $1161)
- Long end of treasury thinks the Fed tightening is a mistake. The short end is pricing in a tightening.
- Long term bearish of old school car sales
- Dollar has shown very little desire to correct
Gundlach, if not the new bond king, is a close 2nd behind Bill Gross of Janus.
You can listen to the live webcast by going here and registering
