- “This is a capital-preservation market, not a money-making environment,” says Jeff Gundlach in his latest webcast. "We could be looking at a really ugly situation during Q1 ... It's particularly more likely to happen if the Fed keeps banging this drum of raising interest rates against falling inflation.”
- While oil may have bottomed for the moment, there's no reason to be bullish on black gold over the long term.
- The long dollar trade (UUP, UDN) is a crowded one, says Gundlach, noting plenty of occasions when the greenback fell despite Fed rate hikes.
- Of the Fed's insistence on four rate hikes this year vs. the market's expectation for just about two, Gundlach thinks the market might win.