Bond guru Gundlach warns tax plan could have ‘unintended consequences’ for junk debt [MarketWatch]
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Source: MarketWatch
Bond guru Gundlach warns tax plan could have ‘unintended consequences’ for junk debt Bond guru Jeff Gundlach said the Republican tax plan could have “unintended consequences” on high-yield bonds, also known as junk debt. Gundlach, fund manager and founder of DoubleLine Capital, says the tax plan’s changes to interest-rate deductibility could hurt the $1.5 trillion market, which has seen little gains this year even as equities have steamed ahead with their impressive rally. The GOP is close to passing its tax cuts after House and Senate Republicans agreed to a finalized bill on Wednesday. “There’s probably going to be some unintended consequences, it will probably harm some companies and some sectors,” he said. Gundlach made his remarks during a Wednesday interview with CNBC. See : Why tax-bill fears may be one big contributing factor in junk bond slump His thinking is that high-yield bonds have been remarkably steady since oil prices fell below $30 in early 2016 thanks to very few
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