Gundlach Sees Recession Sign in U.S. Consumer Confidence Spread

U.S. consumer confidence still looks relatively high even with recent declines, but billionaire investor Jeffrey Gundlach says the underlying data suggest a recession is coming.

Gundlach tweeted Tuesday after the Conference Board’s confidence survey for January showed the widest gap between current sentiment and expectations since March 2001, the first month of the U.S. recession that year.