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Jeff Gundlach just wrapped up another conference call and he made some good (and bad) insights.  Here are the key takeaways:

  • He says Greece is likely to leave the Euro as the situation continues to spiral out of control.
  • Spanish equities are a decent risk-on asset if you have to choose something in Europe.  But he’s not sure if you’ll make money….
  • He seems to be joining the Kyle Bass team with regards to Japan’s debt situation….
  • Germany is near a recession.
  • The long natural gas, short Apple trade has performed well so far….
  • QE3 is more likely after recent economic data.
  • Keep an eye on the week of June 18th where we have a big Fed meeting, another European leader’s conference and implementation of the Volcker Rule.
  • The Fed won’t raise rates unless CPI gets very high.  He says those who think we’re reliving the 70’s are wrong.  “It’s not gonna happen”.
  • He says housing in the USA has not bottomed even though it’s becoming fashionable to call the bottom now.  Housing will “bumble along”.
  • There’s not a great deal of downside in 10 year yields….
  • Gold is a reasonable thing to own here….

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