Gundlach Warns Recession and Layoffs May Be Around the Corner
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Veteran bond investor Jeff Gundlach says signs point to an upcoming recession that will cost Americans jobs.
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Gundlach points to the narrowing gap between 2-year and 10-year Treasury yields as a sign of a looming slump.
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The yield curve inverted in mid-2022 and has now partially de-inverted, which often precedes recessions.
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The still-low unemployment rate has moved above its 12-month average, another "recessionary" signal per Gundlach.
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Gundlach believes layoffs are coming soon, pointing to recent cuts at tech and finance firms.