Chinese companies must repay 2.7 trillion yuan of bonds in the second half of this year, and together with another 3.3 trillion yuan of trust products set to mature in the second half, China's bond market may be facing its first real crisis.
"Global economic surprises are falling, and so are some leading indicators in the US. Asset prices that reflect global growth are stalling (Dr Copper, Dr Halliburton, Dr. Sotheby’s etc). We disagree with the bearish bond consensus."
The deficit combined with with the Fed’s balance sheet roll-off, will mean $2–$3 trillion in new Treasury issuance. Gundlach thinks this "situation is set to explode in 2019" and also sees net tightening starting next year, adding that the market is starting to realize it.
"...This storm will strengthen rapidly, so much so that it may reach “bomb” criteria (24mb/24 hours). As this occurs, a variety of precipitation types are expected along with gusty, potentially damaging winds over a large area."
In documents which surfaced on Reddit, the plaintiff claims that Wright stole hundreds of thousands of BTC, worth over $5 billion dollars at today’s rate, from David Kleiman’s estate. The plaintiffs allege that Wright recognized that Kleiman’s friends and family were initially unaware of the wealth he accumulated.