Jeffrey Gundlash says: “Bond King”, the stocks do not gather due to $ 3,000,000 a day a problem in the United States.
Jeffrey Gundlach, “Bond King” Jeffrey Gundlach says the stock market is struggling to maintain marches due to a huge expense to deplete government treasures.
In a new interview by CNBC, CEO of Doubleline Capital Indicate The S&P 500 has abandoned most of its gains since the federal reserve began the price cutting course in the third quarter of 2024.
According to Gundlach, risk assets like stocks tend to see high shirts when the Federal Reserve reduces interest rates. As the S&P500 decreased to another level seen in September last year, Gundlach says that the basic decline procedure indicates that a deeper problem disturbs the stock market.
“Since the Federal Reserve to start lowering reduction rates in September, bond yield is still rising, and the stock market has only worked very little since then. So, this is an extraordinary period of time as federal reserve rates fall by 100 basis points and talked about two others, we have not seen mobilization in treasury bonds for 10 years …
We have also had no gathering in stocks since the Federal Reserve began to reduce interest rates. There is this ancient phrase “Do not fight the Federal Reserve”, which is supposed to mean that if the Federal Reserve is cut off, it is assumed that it remains a long risk but this type does not work this time.
I think this will continue to be the subject with our progress in time.
I think we have a big problem … with this interest account. More than 3 billion dollars a day at interest expenses on treasury debts. “
The interest expenses are the benefit that the US government pays for its national debts of $ 36.22 trillion. The non -profit party committee for the responsible federal budget (CRFB) He says Data from the Treasury showed that the government paid 882 billion dollars in interest costs during the 2024 fiscal year, which lasted from October 1, 2023 to September 30, 2024.
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