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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed was hawkish in rhetoric, but not in action, says DoubleLine CEO Jeffrey GundlachCameron Dawson, NewEdge Wealth CIO and Jeffrey Gundlach, DoubleLine CEO, join 'Closing Bell' with reaction to the Fed rate hike pause, Powell's statements and what it all means for the markets.
Persons: Jeffrey Gundlach Cameron Dawson, Jeffrey Gundlach Organizations: Fed, NewEdge
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed decision hasn't changed our game plan of bond-heavy barbell portfolio, says Jeffrey GundlachJeffrey Gundlach, Doubleline CEO, joins 'Closing Bell' to react to the Fed rate pause and discuss the equity market and risk assets.
Persons: hasn't, Jeffrey Gundlach Jeffrey Gundlach
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Jeffrey Gundlach and Cameron Dawson on Fed's latest rate decisionCameron Dawson, NewEdge Wealth CIO and Jeffrey Gundlach, Doubleline CEO, join 'Closing Bell' to react to the Fed rate pause and Powell's following statements and what it means for the markets.
Persons: Jeffrey Gundlach, Cameron Dawson Organizations: NewEdge
DoubleLine Capital CEO Jeffrey Gundlach said Wednesday that the Federal Reserve could tip the economy into a recession if the central bank follows through on its rate-hiking path this year. "I think that if the Fed follows the path that they're talking about, ... they are going to break something," Gundlach said on CNBC's " Closing Bell." The Fed paused its hiking campaign in June, but forecast it will raise interest rates as high as 5.6% before 2023 is over. The so-called dot-plot released Wednesday projected two more increases left in 2023, if the central bank keeps its rate-hiking pace at quarter-point increments. Gundlach said he doesn't think the Fed is going to be raising interest rates again as data are expected to deteriorate.
Persons: Jeffrey Gundlach, Gundlach, Jay Powell, we're, Jerome Powell, Powell, hasn't Organizations: DoubleLine, Federal, Fed
Wall Street experts are butting heads over the health of the economy, and what's to come. David Rosenberg, Rosenberg Research president"Markets pricing in a 'soft landing'? Will they ever be in for a big surprise," the Rosenberg Research chief tweeted. "You look at the United States and it seems to me that we're still making this transition from expansion to recession," Rosenberg said. "We're referring to this phenomenon as a Cardboard Box Recession, because items that are made (manufacturing) and shipped (trade) tend to go in a box.
Persons: David Rosenberg, Jeff Gundlach, Clif Asness, , Rosenberg, Will, hasn't, we're, Gundlach, Jeffrey Kleintop, Charles Schwab, Kleintop, Goldman Sachs, That's, Jan Hatzius, Hatzius, Jim Reid, David Folkerts, Landau, Reid, Folkerts, Nicholas Colas Organizations: Service, Federal Reserve, Rosenberg Research, DoubleLine Capital, CNBC, Fibre, Association, Deutsche Bank, Deutsche Locations: United States
"Bond King" Jeffrey Gundlach warned that a US recession is imminent, pointing to signs of weakening demand. "It's pretty clear that we have the look of soon to be at the front end of a recession," the billionaire investor said. Gundlach has consistently rang the alarm on an oncoming downturn as the economy faces a raft of headwinds. "It's pretty clear that we have the look of soon to be at the front end of a recession," Gundlach said. This is not the first time Gundlach, often called "Bond King" for his success in fixed-income investing, has warned of a oncoming US recession.
Persons: Jeffrey Gundlach, Gundlach, , David Rosenberg, that's Organizations: Service, Privacy, DoubleLine, CNBC, Deutsche Bank, Institute of Supply Management, Federal Reserve
DoubleLine Capital CEO Jeffrey Gundlach said Tuesday that it looks increasingly likely the U.S. will tip into a recession. The yield-curve inversion has been a reliable recession predictor and signs of a reversal could be indicative of an imminent economic downturn. Meanwhile, Gundlach said ISM supplier delivery delays are near their lowest levels in 30 years, showing greater supply than demand, which further indicates a weak economy. Gundlach said his preferred portfolio mix right now consists of 30% stocks, 60% bonds and 10% real assets. In terms of real assets, Gundlach said he favors gold, even though he's now less bullish than he was.
Persons: Jeffrey Gundlach, Gundlach, Goldman Sachs, nonfarm, he's Organizations: DoubleLine, Conference Board, Federal Locations: U.S
Bill Ackman, Jeffrey Gundlach, Mohamed El-Erian and others are warning the banking turmoil is far from over. That's prompting top economists and investors to once again warn that the banking turmoil is far from over. Below is a selection of the most recent warnings on US banking risks from high-profile investors, analysts and other experts. Bill Ackman, billionaire investor"The FDIC's failure to update and expand its insurance regime has hammered more nails in the coffin," Ackman said Wednesday on Twitter. He was raising doubts about Federal Reserve chair Jerome Powell's suggestion during a Wednesday press conference that the worst of the banking turmoil is over.
Today we're looking at what some of Wall Street's top investors and commentators say has to happen to curb the banking tumult. The shuttered bank had disclosed in its first-quarter earnings report that customers pulled over $100 billion of deposits in three-months. But even if the regulator did insure more money, former FDIC chair Jelena McWilliams said Thursday a move like that would only cost banks' customers more. A stock market portfolio created by ChatGPT is outperforming the top UK investment funds. Stock market investors should keep an eye out for five key indicators with volatility set to ramp up through the end of the year.
Cathie Wood thinks a credit crunch is underway, and it's going to get much worse from here. The Ark Invest chief told TD Wealth on Wednesday that customer deposits are still leaving regional banks and going into Treasury funds, limiting the ability for banks to potentially produce loans in the future. So, "we have a feeling that we've started in the early stages of a credit crunch that is going to be much more serious than I think most are expecting." Wood cited the downward trajectory of the SPDR S & P Regional Banking ETF ( KRE ) as a basis to forecast a continued deposit outflows from regional banks. On Thursday, European Central Bank chief Christine Lagarde said tighter credit conditions would similarly weaken further bank lending.
The regional bank crisis will persist unless the Federal Reserve cuts rates, according to Jeffrey Gundlach. I believe with a very high degree of probability there's going to be further regional bank failures," Gundlach said. But Gundlach says Powell's comments Wednesday showed no sign that the Fed plans to cut rates in the near future and, as a result, recession odds have increased. To truly bring an end to the banking crisis, Gundlach says, the Federal Reserve must cut interest rates. He doesn't believe the Fed will raise rates again in 2023 and, in fact, thinks the central bank may cut rates by as much as three quarters of a percentage point this year.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with DoubleLine CEO Jeffrey GundlachDoubleLine CEO joins 'Closing Bell' to discuss the Fed's recent rate hikes, China's emerging markets, and more.
Stock futures fell after the Federal Reserve hiked rates by another 25 basis points and investors' fears of contagion in the regional bank space returned. S&P 500 futures shed 0.46%. Regional bank shares sold off hard, with Western Alliance tumbling nearly 30% and Zions Bancorporation dropping nearly 12%. Since the closure of Silicon Valley Bank in March, First Republic has joined the ranks of failed institutions and was recently taken over by JPMorgan Chase. "I believe with a very high degree of probability there's going to be further regional bank failures."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDoubleLine CEO Jeffrey Gundlach: Powell is right to say that inflation has declined a lotDoubleLine CEO joins 'Closing Bell' to discuss the Fed's recent rate hikes, China's emerging markets, and more.
Columbia Threadneedle is launching the Columbia Research Enhanced Real Estate ETF (CRED) on Wednesday, focused on real estate investment trusts. The private Blackstone Real Estate Investment Trust has repeatedly halted redemptions in recent months because investors have hit the fund's stated withdrawal limits. Columbia Threadneedle does not appear to be alone in thinking the bottom is near for real estate. Jeffrey Gundlach's DoubleLine launched a fixed income ETF focused on commercial real estate ( DCMB ) that began trading earlier this month, and iShares debuted an environmentally focused ETF in February ( ERET ). The University of California also invested $4.5 billion into BREIT, the non-listed Blackstone Real Estate Income Trust , in January.
Latest bank lending data suggests the credit crunch "has already started," according to Morgan Stanley strategists. Here's a selection of recent warnings on the emerging threat from experts including Larry Summers, David Solomon, Mike Wilson, Nouriel Roubini and Bill Gross. Apollo Asset Management's Jim Zelter told Bloomberg "it's not a credit crunch" but rather a "transition period" as markets face higher debt costs. "That credit crunch is going to make the likelihood of a recession — a hard landing — much greater than before. "Whether this qualifies as a full-blown 'credit crunch' remains to be seen.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with DoubleLine’s Jeffrey Sherman and Cresset’s Jack AblinDoubleline’s Jeffrey Sherman and Cresset’s Jack Ablin, join 'Closing Bell: Overtime' to discuss current market trends and how investors should be positioning in this climate.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNow isn't the time to add to risk, investors should remain defensive, says DoubleLine’s Jeffrey ShermanDoubleline’s Jeffrey Sherman and Cresset’s Jack Ablin, join 'Closing Bell: Overtime' to discuss current market trends and how investors should be positioning in this climate.
Bahnsen's investment philosophy focuses specifically on high-quality stocks that have a high dividend yield, along with consistent increases. One of his favorite plays is Procter & Gamble , which currently has a dividend yield of 2.5%. EOG has a 2.9% dividend yield and also has been paying a special dividend. Health-care names Names in the health-care sector are generally considered defensive. Quanta Services has a dividend yield on the lower end, at 0.2%.
The stock market is about to enter one of the seasonally strongest months of the year, but volatility could persist in the week ahead with fading momentum and a big jobs report. The stock market is closed that day to observe Good Friday. Week ahead calendar Monday 10:00 a.m. Construction Spending, Feb. 10:00 a.m. ISM Manufacturing, March Tuesday 10:00 a.m. Factory Orders, Feb. 10:00 a.m. JOLTS, Feb. Wednesday 7:00 a.m. Mortgage Applications 8:15 a.m. ADP, March 8:30 a.m. Trade Balance, Feb. 10:00 a.m. ISM Service, March Thursday Earnings: Constellation Brands 8:30 a.m. Initial claims Friday The stock market is closed for Good Friday 8:30 a.m. Nonfarm Payrolls
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 28, 2023. Brendan McDermid | ReutersWall Street investors believe the stock market is headed for losses after a positive first quarter, seeing cash as the best safe haven right now, according to the new CNBC Delivering Alpha investor survey. Zoom In Icon Arrows pointing outwardsThe Fed enacted a quarter percentage point interest rate increase last week, while signaling one more rate hike coming this year. Many investors believe the central bank should reverse course immediately as more rate hikes will exacerbate banking problems and cause a severe economic slowdown. With an overall bearish view on the market, 60% of the investors said cash is their safe haven right now.
Veteran investor Jeffrey Gundlach said it's inevitable that a US recession will strike in the near term. "The economic headwinds are building [...] and I think the recession is here in a few months," he said. Gundlach suggested investors should sell into stock market rallies, especially when the S&P 500 reaches a certain level. Gundlach predicts the Fed will cut interest rates "a couple times" this year, given the US economy is "clearly weak." Meanwhile, Gundlach said the best way to navigate financial markets under current conditions is by selling into equity rallies, especially when the S&P 500 reaches a range between 4,200 and 4,300.
The market sell-off earlier this month has hurt small-cap stocks more than their larger peers. According to Bennett, these companies will be less impacted by macroeconomic trends, making them ideal investments in a challenging market environment. The S & P 600 small-cap index is down by 8% this month compared to the large-cap S & P 500 , which has regained nearly all of its losses over the month to date. Bennett also said small-cap growth stocks do better when leading economic indicators point toward a recession. Meanwhile, Alger's Bennett believes that stocks in his fund rely more on innovation and technology than on industry or economy-level growth.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomic headwinds building and recession will arrive in a few months, says DoubleLine's Jeffrey GundlachJeffrey Gundlach, DoubleLine Capital CEO, joins CNBC's "Closing Bell" to discuss the ongoing banking crisis and his forecasts for the economy and stock market.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with DoubleLine's Jeffrey Gundlach on interest rates and stock market strategyJeffrey Gundlach, DoubleLine Capital CEO, joins CNBC's "Closing Bell" to discuss the ongoing banking crisis and his forecasts for the economy and stock market.
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