Bond King, Jeff Gundlach, from Doubleline is giving a presentation this afternoon.
Here are a few of his key points.
-Leading economic indicators aren’t good
-He’s laughing at people who suggest commodities are in a bull market.
-Set up for 10yr bond is the worst he’s seen in his life. He wouldn’t be surprised if 10yr hit 1.70%
-Believes market will be weak tomorrow ahead of 30yr
-Doesn’t like risk reward of bonds here. Believes TLT and XLU can trade lower.
-Thinks wheat has more upside than bonds here.
-Fast Money traders are long LQD.
Meaningless drek.
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“Leading economic indicators aren’t good…Doesn’t like risk reward of bonds here. ”
So “Everything is crap!”?
I second that question
Regards
Chuck Bennett
Everything is not crap. The economy is improving gradually. And even though some things are crap, the whole world wants to print money and levitate assets on oceans of cash. Not a great strategy for the long run. But then, in the long run, we are all dead.
That’s cute: a little Keynesian propaganda blurb without citing either Keynes, or his modern disciple, Krugman.
How do you get this printed money into hands that will spend it and theoretically prop up a debt-ridden economy? Only one way: handouts. But there are only so many people that are genuinely in need of handouts. What to do? Encourage fraud. And that is what is occurring, on a grand scale.
Enduring civilizations are built on values. When the leaders themselves encourage and enable the common citizen to transform themselves into both a liar and a thief, values cease to exist. Why should anybody bother to be productive, in any way? There is more and easier money to be made by putting your hand out and lying as to why you need some easy money.
Krugman likes to go on with, “Economics isn’t a morality play.” But it is, in every way that matters. In essence, Keynesian handout policies are fascist in nature: they consider humanity to consist of “animals”, bereft of and unaffected by moral concerns. Thus the Keynes reference to “animal spirits”. We’re all just a bunch of space monkeys in the Keynesian eye.
BTN
Why would only thugs die?
Where did you go?
Regards
Chuck Bennett