The Bond King is steering clear of the US. That's one of the prevailing themes that defines Jeff Gundlach's latest investing playbook, the famed fixed-income investor said. In an appearance on CNBC on Wednesday, the DoubleLine Capital CEO pointed to two risks in particular that were swaying his macro outlook: Higher inflation. Inflation is running at about a 3% annualize rate, above the Fed's 2% target. While that difference sounds small, Gundlach estimates that it translates into a 56% increase in consum ...

Group 1 - Nexo is acquiring Buenbit, an Argentine trading platform, to expand its growth in Latin America [1][2] - Buenbit operates in Argentina and Peru, serving over 1 million clients and is registered with Argentina's securities regulator [2] - Nexo plans to develop Buenos Aires as a regional hub for partnerships and investments in Argentina, Peru, and Mexico as part of its multi-year strategy [3] Group 2 - Argentines are increasingly using digital currencies as a hedge against high inflation, which has decreased from previously high levels [3] - The central bank of Argentina is considering allowing traditional banks to trade cryptocurrencies, indicating a potential shift in regulatory stance [3]

Market Overview - Financial markets experienced volatility, starting strong but ending with uncertainty due to geopolitical tensions and regional bank issues [1] - The US dollar initially strengthened but softened after dovish signals from the Federal Reserve, while safe havens like the Japanese yen and Swiss franc saw inflows during market stress [2] Federal Reserve Insights - FED Chair Jerome Powell highlighted increased downside risks to employment and evidence of labor market cooling, despite delays in official data due to the government shutdown [3] - Powell maintained that long-term inflation expectations align with the 2% target and indicated the possibility of a quarter-point rate cut at the upcoming meeting [4] - He acknowledged that the Fed may halt quantitative tightening soon, with the balance sheet expected to remain larger than pre-pandemic levels due to higher demand for reserves [4] Currency Pairs Analysis - AUD/JPY has shown signs of bullish movement after finding support at previous levels, with a short-term target set around 102 [5][6] - The British pound has gained strength against most currencies, with a focus on its sustained range against SGD and potential breakout towards 1.76 [7][10] Economic Indicators - Canadian inflation has declined to approximately 3%, while UK inflation is expected to rise to 4%, influencing the strength of the pound and the Bank of England's rate decisions [11]

Core Insights - Americans are increasingly pessimistic about job prospects, as indicated by a recent survey [1] - Persistent inflation continues to frustrate consumers, leading to a lack of confidence in economic improvement [1] Group 1: Job Market Sentiment - The survey reveals a growing disillusionment among Americans regarding the availability of new jobs [1] - This sentiment reflects broader concerns about economic stability and growth [1] Group 2: Inflation Impact - Ongoing inflation is a significant source of frustration for consumers, impacting their overall economic outlook [1] - The combination of job market pessimism and inflation contributes to a general lack of confidence in the economy's future [1]