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Rising rates and deficit spell big trouble for the U.S., warns bond king Gundlach

MarketWatch
Rising rates and deficit spell big trouble for the U.S., warns bond king Gundlach

The Fed had better come up with something good today if it doesn’t want to be upstaged by a scroungy raccoon. With a rate hike from the central bank all but baked in, the excitement may have to come from dot-plot projections or the Q&A session with Chairman Jerome Powell, which is tipped to be a doozy. Markets are happy to wait it out, still snoozing after proclamations of peace with North Korea failed to move the needle. So on to our call of the day, which comes from DoubleLine founder Jeff Gundlach, who has a dire warning on the U.S. fiscal situation. “Here we are doing something that almost seems like a suicide mission,” he said in a fresh webcast about his DoubleLine Total Return Bond Fund.