Billionaire investor and 'The Bond King' Jeffrey Gundlach says economic indicators are 'strongly suggestive' of a recession in the first half of next year.
DoubleLine Capital CEO and CIO Jeffrey Gundlach, a.k.a. ‘The Bond King,’ on the macroeconomic trends that ‘bear watching’ amid a looming recession.," Wednesday, DoubleLine Capital CEO Jeffrey Gundlach – better known as "The Bond King" – cautioned of a weakening economy in 2024 and Americans embarking on a "death spiral" over their personal finances.
"But the consumers have ramped up their credit card spending tremendously to fill that gap, which is not sustainable. It's the classic tractor pull," he added. "Once you start borrowing on a credit card to pay a credit card, you're basically in a death spiral with your personal finances.", which depicts the ultimate yields for long-term and short-term bonds, remains inverted, and the unemployment rate is reaching a plateau.
It marked the worst month for job creation since January 2021, painting a grim picture over the September jobs report on Friday.
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