The U.S. has a 40-45% chance of a recession in six months.
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Jeffrey Gundlach, chief executive of DoubleLine Capital and a well-known bond fund manager, said on Thursday that the chances of a recession in the United States in the next six months had risen to 40-45% and 65% within next year.
Gondlak said the yield curve and the New York Federal Reserve's view of recession probability showed that the probability of recession increased.
"Several indicators suggest a recession could occur within a year," Gondlak said on an investor website, adding that consumer indicators show "the edge of the recession."
Gondlak said earlier this year that there were no signs of recession yet, but that the US-China trade war and weak global economic momentum were warning signs.
Gondlak said the Fed may not cut interest rates in June, but it may take action later in the summer. Gondlak said the bond market situation indicated that the Federal Reserve would cut interest rates twice or three times by the end of the year, each by 0.25 percentage points.
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