For Gundlach, These Are The Three Key Charts To Watch

Yesterday afternoon, we presented readers with the latest Jeff Gundlach webcast and presentation, in which the DoubleLine fund manager was surprisingly non-committal in his outlook on the future, predicting no imminent – or even belated – recession and adding there is no risk of a high-yield junk bond “meltdown.”
Among other things, the sanguine Gundlach touched on US policy, saying that with healthcare legislation overhaul derailed, U. S. tax cuts will be “really, really hard to get done.”
He told Reuters following the webcast that repealing and replacing Obamacare “was always going to be hard to get done. But, yes, the first round failure to repeal is a negative omen” later telling Reuters’ Jennifer Ablan that repealing and replacing Obamacare “was always going to be hard to get done. But, yes, the first round failure to repeal is a negative omen.”
Gundlach also remarked on one of Wall Street’s darlings du jour, namely Tesla, which yesterday surpassed GM briefly in market cap, and which he called a “momentum stock.” He told Reuters: “As a car company alone, Tesla is crazy high valuation. As a battery company – one that expands and innovates substantially – maybe the valuation can work.”

This post was published at Zero Hedge on Apr 5, 2017.