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Tuesday, July 12, 2016|
Gundlach Talks Brexit and Market Volatility With Barron's
DoubleLine Capital's Jeffrey Gundlach spoke with Barron's about the state of the markets amid economic uncertainty in Europe and in the United States. The interview centered on the U.K.'s exit from the EU in addition to the upcoming presidential elections in the United States.
That's not to suggest it will be smooth sailing. Gundlach states DoubleLine had already been preparing for a "summer of volatility," pointing to the Fed's mixed messages about raising interest rates, which has since given way to "economic and political uncertainty."
It matters to U.S. economic growth if Britain falls into something of a recession. The companies in the Standard & Poor's get more than 40 [percent] of their revenue from outside the U.S., and a big piece of that is Europe, so there is a risk there. Then there is the risk that it is really just the beginning of something -- that there will be more downside for stocks -- and not the end of something. That is a very real risk. - Gundlach in Barron's
Gundlach goes on to compare the U.K.'s vote to leave the EU to the upcoming presidential elections in the United States.
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