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Podcast: Money Life with Chuck Jaffe
Episode: Shelton's Rosenkranz: The market underestimates the chance of a hard landing
Description: Jeff Rosenkranz, fixed income portfolio manager at Shelton Capital Management, says that if the Federal Reserve waits too long to cut rates or if systemic problems resurface -- including potential troubles with bank safety -- the economy could be due for more trouble than most observers expect. Rosenkranz expects to see a significant increase in credit troubles and defaults, noting that the classic default cycle that accompanies rate hikes hasn't really occurred yet, but that it's unlikely to be avoided completely. One area that has struggled with the rate cycle has been municipal bond funds, and Jonathan Mondillo, head of...