Twin tweets from two titans, Bill Gross and Nouriel Roubini, on Monday point to pessimistic outlooks from the men and their firms.
“U.S. economy approaching recession when measured by employment, retail sales, investment and corporate profit,” Gross (left), chairman of PIMCO, the world’s largest bond manager, warned the Twitterati.
Upping the doomsday rhetoric, Roubini (right) tweeted, “Q3 growth could be well below 1% given June sales report and unintended inventory buildup. U.S. at stall speed.”
The power duo’s sentiment echoed that of JPMorgan Chase, which revised its GDP projections for Q2 and Q3 downward on Monday (to 1.4% from 1.7% and 1.5% from 2%, respectively).