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Just noticed - it’s at 4.366% as of 9 AM today. That’s down from over 4.5% last week. Was off sharply yesterday. Don’t pay a lot of attention to bond funds. My two “bond” holdings, PRIHX and LSST both gravitate to the short end of the curve. It hasn’t escaped me that PRWCX has suffered this year due to its bond holdings, as have virtually any other funds with exposure.
As well as a big drop in oil prices too. Many recent economic indicators have shown weakness. Couple that with this week’s Barron’s cover story of no rate cuts by the Fed this year and you have the perfect contrarian storm. The tell should be Friday’s monthly employment report. Any weakness there and everyone will be talking about rate cuts sooner than later. But who knows. Predicting and forecasting is a fool’s game best left for……….
Guess I’m the only one that listened to the Gundlach interview. He likes BB provided they are well researched. Steer clear of CCC he says.
A bit more. He sees recession followed by heavy stimulus from the Fed (and probably politicians). I can’t argue with that either - though crystal ball investing isn’t to my liking or nature. I don’t recall any timelines in that forecast.
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Guess I’m the only one that listened to the Gundlach interview. He likes BB provided they are well researched. Steer clear of CCC he says.
A bit more. He sees recession followed by heavy stimulus from the Fed (and probably politicians). I can’t argue with that either - though crystal ball investing isn’t to my liking or nature. I don’t recall any timelines in that forecast.