DoubleLine Webcast
Comment of the Day

December 12 2018

Commentary by Eoin Treacy

DoubleLine Webcast

I tuned into Jeff Gundlach’s webcast yesterday afternoon and as usual he had a number of interesting charts and observations.

Eoin Treacy's view

The first observation I drew is that he was keen to point out the lead indicators for future recessions he employs and how many of them are positive versus negative. Of course, some of these have longer lead-times to a signal than others which is not a point he made. The clear conclusion was that there are certainly challenges emerging and that quantitative tightening is a headwindf for stock markets. The clear message here is that if the Federal Reserve continues to remove liquidity and the ECB holds to its commitment to end purchases that is likely to continue to represent a headwind for asset prices.

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