"New Debt King" Gundlach: I think gold will rise as the dollar falls.

"New Debt King" Gundlach: I believe the dollar will fall as the Fed cuts interest rates.

"New Debt King" Gundlach: It is expected that there will be a large number of low-quality bond defaults in the fourth quarter.

"New Debt King" Gundlach: There may be more regional bank failures.

"New Debt King" Gundlach: The Fed may cut interest rates by as much as 75 basis points before the end of the year.

"New Debt King" Gundlach: I think the Fed is "too slow" in raising interest rates.

"New Debt King" Gundlach: The Fed should do nothing today.

"New Debt King" Gundlach: It is expected that the stock market will develop in a downward direction.

"New Debt King" Gundlach: The risk asset market is too complacent.

"New Debt King" Gundlach: It is expected that lower-quality fixed-income bonds will face the risk of default.

"New Debt King" Gundlach: The Fed is not expected to raise interest rates again.

"New Debt King" Gundlach: The possibility of a recession is quite high.

Spot gold rose by more than $7 in the short-term to $2,027.61 an ounce; the U.S. dollar index DXY fell 17 points in the short-term to 101.37.

On May 3, local time, the U.S. Department of Defense announced that it would provide Ukraine with additional military aid worth $300 million. According to a statement issued by the Ministry of Defense, the assistance includes additional ammunition for the "Hippocampus" multiple rocket launcher system, howitzers, artillery and mortar shells, and anti-armor weapons.

[The Sudanese Armed Forces agreed to the IGAD mediation initiative including continuing to extend the ceasefire for a week] On the evening of May 3 local time, the Sudanese Armed Forces stated that they had received a mediation initiative from the Intergovernmental Organization for Development of East Africa (IGAD). The initiative includes an extension of the current ceasefire for another week, with representatives from each side of the conflict appointing a representative to discuss the truce with a high-level mechanism comprising the presidents of South Sudan, Kenya and Djibouti, provided that such dialogue negotiations will take place in conjunction with the mechanism in agreed countries. The armed forces stated that considering the principle of solving African problems in an African way, the force agrees with the above-mentioned IGAD proposal, and proceeding from humanitarian principles, it is hoped that the Rapid Support Forces will abide by the armistice agreement.

Federal Reserve Chairman Powell: Clearly we need to strengthen regulation and supervision of large banks.

Fed Chair Jerome Powell: Speed of events at SVB suggests need to be reflected in regulation and norms.

Federal Reserve Chairman Powell: We have the ability to look at the data and make cautious assessments.

Federal Reserve Chairman Powell: We will continue to carefully monitor the banking system, which will play an important role in our decision-making.