DoubleLine Capital, Released on 3/21/24 (Recorded on 3/20/24)

DoubleLine CEO-CIO Jeffrey Gundlach, following Fed Chair Jerome H. Powell’s press conference, shared his post-Federal Open Market Committee (FOMC) meeting reaction with P&I Editor-in-Chief Jennifer Ablan. On Wednesday, March 20, the FOMC left interest rates unchanged but suggested the possibility of three rate cuts this year. The market had anticipated more cuts initially but has now aligned around three cuts. The U.S. Treasury yield curve steepened, and stock markets surged following the announcement. Mr. Gundlach noted that since the Fed’s rhetorical pivot in November, credit-focused assets have outperformed Treasuries, with tightening spreads and shifting pricing trends across various credit ratings. This shift signals rising risks in high yield bonds and stock momentum trades.

Jeffrey Gundlach is the Chief Executive Officer and Chief Investment Officer of DoubleLine Capital. He is recognized as an expert in bond and fixed income investments. His investment strategies have been featured in leading publications from around the world In 2013, he was named “Money Manager of the Year” by Institutional Investor. He is a graduate of Dartmouth College summa cum laude holding a BA in Mathematics and Philosophy. He attended Yale University as a PhD candidate in Mathematics.

  bond markets, federal reserve, inflation, interest rates, investing, Jeffrey Gundlach, stock market, us economy