(Reuters) - "The subprime area is a total unmitigaged disaster and it's
going to get worse," Gundlach told Morningstar's annual
investment conference in Chicago.
Gundlach, picked by research firm Morningstar as the best
fixed income manager for 2006, said delinquencies in loans made
to risky borrowers could rise as housing prices in the United
States are declining, supply is growing and credit to subprime
borrowers has been tightened, making refinancing difficult.
Read more at Reuters.com Bonds News
going to get worse," Gundlach told Morningstar's annual
investment conference in Chicago.
Gundlach, picked by research firm Morningstar as the best
fixed income manager for 2006, said delinquencies in loans made
to risky borrowers could rise as housing prices in the United
States are declining, supply is growing and credit to subprime
borrowers has been tightened, making refinancing difficult.
Read more at Reuters.com Bonds News
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