Gundlach Says S&P 500 Will Have Negative Return for 2018
- Bond manager says he’s dubious of bitcoin’s long-term value
- S&P to have ‘pretty decent run’ in early ’18 before declining
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Jeffrey Gundlach, the billionaire bond manager, says the S&P 500 Index will end the year with a negative return and is dubious of the long-term value of bitcoin.
“All recession indicators are flashing no recession, which means it’s priced in,” Gundlach said Tuesday during his annual “Just Markets” webcast, in which he gives his outlook for the coming year. “This is why I say S&P 500 down after a pretty decent run early in 2018.”