Stock market bracing for 'regime change' amid Washington power shift: Gundlach

A sea of change is set to wash over the U.S. equity market as President-elect Joe Biden prepares to enter the White House, according to billionaire bond fund manager Jeffrey Gundlach.

Market trends that began in 2017 and 2018 in anticipation of President Trump’s historic tax cuts have already started to reverse. Trump’s Tax Cuts and Jobs Act reduced the top corporate tax rate to 21% from 35% and enticed businesses to bring back $1 trillion of overseas cash. 

“I think this is a harbinger of significant sort of regime change for markets,” Gundlach, CEO and chief investment officer of Los Angeles-based DoubleLine Capital, which has $148 billion in assets under management, said during a conference call Tuesday evening.

-READ MORE

 Read more at Fox Business

Current News

Trump calls on Americans, Big Tech to help ensure peaceful transition: 'NO violence'

Trump calls on Americans, Big Tech to help ensure peaceful transition: 'NO violence'

Trump's statement comes as House debates impeachment, days before Biden inauguration  Read more

Parler Goes Ham on Amazon, Drops Antitrust Lawsuit on Their Head

Parler Goes Ham on Amazon, Drops Antitrust Lawsuit on Their Head

Earlier in the week, it was announced that Amazon was going to kick Parler off their hosting service because the alternative social media site supposedly had users posting “threats.”  Read more

Manchin Now More 'Open' to DC, Puerto Rico Statehood Question

Manchin Now More 'Open' to DC, Puerto Rico Statehood Question

Sen. Joe Manchin would not rule out granting the District of Columbia and Puerto Rico statehood—a change in tune from comments he made about the notion just a couple months ago.  Read more

Mike Pence allegedly enraged at President Trump: GOP senator says he's never seen the VP as 'angry as he was today'

Mike Pence allegedly enraged at President Trump: GOP senator says he's never seen the VP as 'angry as he was today'

'After all the things I've done for him'  Read more

BREAKING: Trump Says He’ll Skip Biden’s Inauguration

BREAKING: Trump Says He’ll Skip Biden’s Inauguration

President Trump announced on Friday that he will skip President-elect Joe Biden’s inauguration on Jan. 20.  Read more

DC Mayor Bans Guns Ahead Of Trump Rally, Warns Residents Not To Interact With Attendees

DC Mayor Bans Guns Ahead Of Trump Rally, Warns Residents Not To Interact With Attendees

Washington, D.C., Mayor Muriel Bowser made it clear, Tuesday, that the city will be locked down for Wednesday’s planned rallies in support of President Donald Trump, and that weapons of any kind will not be permitted.  Read more