Jeffrey Gundlach
Adam Jeffery | CNBC
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DoubleLine Capital CEO and Wall Street “Bond King” Jeffrey Gundlach is not worried about a possible recession in 2020 even though he doesn’t think China and the U.S. will get a trade deal done before the election.
“We’ve never had a recession without negative leading indicators,” Gundlach told CNBC’s Scott Wapner on Wednesday. “Leading indicators are low right now … but numbers that are rolling off from the December-January period are quite low. So our forecast is that those are going to improve, which makes it very unlikely that we’ll have a recession in the next six-to-12 months.”
Gundlach noted the consumer’s perception of current conditions would have to drastically deteriorate while weekly jobless claims spike up.