Gundlach: 'Central Banks Losing Control'
Jeffrey Gundlach, the chief executive of DoubleLine Capital, said investors are dropping risky assets and turning to safer securities including Treasurys and gold because they are losing faith in central banks. "Central banks are losing control and they don't know what to do ... just like the Republican establishment and Donald Trump," Gundlach told Reuters. [Full Story]
China Smells 'Risk,' Dumps $126 Billion of US Stocks
China's stash of American stocks sank about $126 billion, or 38%, from the end of July through March, to $201 billion. This move comes after China, owner of the world's biggest foreign-exchange reserves, dumped $250 billion of U.S. government debt. “The Chinese are taking the view that sitting in U.S. equities is presumably quite risky," an HSBC Bank official said. [Full Story]