Robert Pavlik, chief investment officer for Oaktree Asset Management, told CNBC’s “Morning Call” that he expects the market to pull back this summer.
“I think the economy is still in a mid-cycle slowdown,” Pavlik said Thursday. “We’re not coming into a recession, but (the economy) is slowing down. (The market) is going to focus on higher inflation, weaker business spending, weaker manufacturing, a weaker dollar, and higher oil prices. This is going to add up to a market that’s overbought at this level.”