“Stock Markets Should be Down Massively,” but Investors “Hypnotized that Nothing Can Go Wrong”

by Wolf Richter
Wolf Street

Bond bull Gundlach U-turns, goes “maximum negative” on Treasuries

Stock investors have entered a “world of uber complacency,” Jeffrey Gundlach, CEO of DoubleLine Capital in Los Angeles, explained – we assume with some bafflement.

On Friday, the S&P 500 hit another all-time high, after it was reported that the US economy grew at a painfully slow rate of 1.2% annualized in the second quarter, after a first quarter of 0.8% growth, which produced a first-half growth of 0.9% annualized, the worst in four years.

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