Gundlach says 'strange environment' to be cutting U.S. corporate taxes

Jimmy 3x3 | 8 Views | 2017-12-05T23:15:40+00:00

NEW YORK (Reuters) - Doubleline Capital Chief Executive Jeffrey Gundlach, who voted for President Donald Trump, warned on Tuesday that it is a “strange environment” to be cutting U.S. corporate taxes with the economy already in its eighth year of expansion.

FILE PHOTO - Jeffrey Gundlach, CEO of DoubleLine Capital, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid

“A tax cut will reduce revenue and it will grow the deficit and therefore, it will probably grow bond supply, and perhaps boost economic growth,” Gundlach said on an investor webcast. “And if it does and the amount, it is going to be bond unfriendly.”

Reporting by Jennifer Ablan; Editing by Jonathan Oatis

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