In this different economic climate, it’s hard to time the end of the current recovery. Still, it will end, due either to Fed overtightening or crisis.
Resurgent commodity prices helped buoy the currency, as did a central bank that kept borrowing costs steady, making it an outlier amid global easing.
The first part of the agreement calls for China to purchase $200 billion of U.S. products over the next two years and protect against IP theft.
Gundlach’s interest rate analysis, for example, is often sagacious, but his market forecasts could not have been more inaccurate in 2019.