Dalio's Bridgewater Bearish on Financial Assets, ZeroHedge Says

(Bloomberg) -- Bridgewater Associates, the hedge fund firm led by billionaire Ray Dalio, told clients it’s bearish on almost all financial assets, the website ZeroHedge reported Tuesday.

“2019 is setting up to be a dangerous year, as the fiscal stimulus rolls off while the impact of the Fed’s tightening will be peaking,” the hedge fund giant said in a recent note written by Co-Chief Investment Officer Greg Jensen, according to the publication. Bridgewater, the world’s largest hedge fund firm, manages about $160 billion, according to its website.

Ryan FitzGibbon, a spokeswoman for Westport, Connecticut-based Bridgewater didn’t respond to a Bloomberg request for comment.

Dalio said in January that the bond market had slipped into a bear phase and warned that a rise in yields could spark the biggest crisis for fixed-income investors in almost 40 years. The current environment is good for stocks but bad for bondholders, he said at the time.

Read more about Bridgewater’s bets in Europe here.

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