One month after Jeff Gundlach’s latest webcast issued a stern warning to corporate bond investors, warning at just the right time that both corporate and high-yield bonds are at or close to their most extreme levels of overvaluation historically, and that if the BBB-rated market, is downgraded to junk, it would “flood” the high-yield market, the DoubleLine CEO is back discussing the current state of the market of the economy, and for those wondering, it does not start optimistically with Gundlach warning that the global economic growth is slowing, that GDP – excluding inventories – is at one of the weaker levels in the past 4 years, and that consumer confidence expectations are lower than prior to the 2007 recession.
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via RSS https://ift.tt/2Ld6rwW Tyler Durden