The week’s financial landscape was a mixed bag with warnings of a debt crisis, bullish views on U.S. stocks, and concerns about the unemployment rate. The most prominent financial figures such as the ‘Bond King’ Bill Gross, global asset manager BlackRock Inc, and JPMorgan Chase & Co’s CEO Jamie Dimon have all chimed in with their perspectives.
Bill Gross Foresees a Debt Crisis Looming
Bill Gross, co-founder of PIMCO, drew parallels between the slow and destructive impacts of climate change and the U.S.’s $34 trillion debt crisis. Gross warned of the compounding impact of nearing $1.5 trillion annual deficits, which he predicts could potentially fuel inflation. Read the full article here.
BlackRock Bullish on U.S. Stocks
BlackRock, the world’s largest asset manager, upgraded its U.S. stocks rating from “underweight” to “overweight”. They expect a forthcoming economic soft landing due to the Federal Reserve’s…
