GUNDLACH: I don't think Yellen's comments suggest a June rate hike is happening
Thomson Reuters
Wall Street trimmed gains in early afternoon trading on Friday after Yellen said it would likely be appropriate to raise rates "in the coming months."
Gundlach said he still believes Yellen was more dovish in her comments Friday than her Fed colleagues.
Following Yellen's comments, data from Bloomberg indicated market pricing suggests about a 30% chance of an interest rate hike from the Fed in June, while July's meeting was about a 50/50 proposition.
Gundlach said Thursday he expected Yellen's comments Friday to be dovish.
Yellen spoke Friday at Harvard University, where she was awarded the Radcliffe Medal. The Fed chair will speak again on June 6, her final appearance before the Fed's June 15 meeting.
(Reuters reporting By Jennifer Ablan; Editing by Chizu Nomiyama)
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh