Gundlach Warns of 'Death Spiral' for Consumers, Recession Risk in 2023 Due to Reliance on Credit, Slowing Jobs
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Jeffrey Gundlach warns US consumers are on a "death spiral" over personal finances due to reliance on credit cards.
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Gundlach believes economic weakness and volatility are ahead in 2023 due to inverted yield curve and plateauing unemployment rate.
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Gundlach sees signs of slowing job growth and thinks a recession is likely in the first half of 2023.
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Gundlach warns of "too much competition" in markets with high P/E ratios for stocks and rising bond yields.
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Gundlach says risk-reward now favors fixed income given Fed rate hikes; sees superior returns with less risk.