Source: Zero Hedge
“A sheepish Scott Wapner dared to ask DoubleLine’s Jeffrey Gundlach an open-ended question about the stock market, and we suspect the response he got was far from what he wanted to hear. ‘I’m pretty sure this is a long-term bear market for stocks…S&P is headed to new lows’, ‘We’ve had pretty much all of the variables which characterize a bear market.’ Other highlights from Gundlach include: I think we’ll ratchet up tariffs. 2019 is all about Capital preservation. Worst thing to do is herd into S&P passive fund. Gundlach sees bond yields still moving higher on supply. Mueller, House probes are a market negative. He sees a weaker dollar ahead….Additionally, Gundlach says the Federal Reserve shouldn’t raise interest rates when it meets this week, citing concerns about the bond market and expectations that a slowing economy may require policy reversals in 2020.”
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