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Jeffrey Gundlach: Avoid general obligation municipal bonds in California, Illinois and New York
Investor Jeffrey Gundlach has advised against investing in general obligation municipal bonds from California, Illinois and New York.
He cites growing fiscal deficits and tax policies contributing to revenue shortfalls in these major U.S. states. Gundlach noted that he has never purchased a general obligation municipal bond, signaling his strong reservations amid current fiscal conditions. The comments come as concerns over state-level indebtedness and budgetary sustainability mount, particularly in regions facing persistent fiscal challenges.
Gundlach’s latest remarks on municipal bonds align with his persistent scrutiny of shifting risk dynamics in U.S. financial markets. His concerns mirror broader trends, such as JP Morgan’s recent decision to require more collateral on private credit loans as detailed in previous analyses of tightening credit conditions. Furthermore, Gundlach’s apprehension echoes warnings about the increasing prevalence of illiquid assets within liquid funds, an issue he addressed in earlier discussions of Wall Street’s asset allocation strategies, underscoring his ongoing caution amid evolving fiscal and market environments.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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