Jeffrey Gundlach says he expects markets to reverse postelection moves

There can be “hassle for fairness markets” if the yield on the benchmark 10-year U.S. Treasury note moves past three p.c, Jeffrey Gundlach, chief govt of DoubleLine Capital, warned on Tuesday.

Late Tuesday, the 10-year yield stood at almost 2.38 p.c.

In his first investor webcast this 12 months, Gundlach mentioned after the current enormous run-up in U.S. inventory markets, traders ought to look to “peel off” their publicity to equities. Gundlach, identified on Wall Avenue because the ‘Bond King’, mentioned he expects markets to reverse their post-election moves.

About rate of interest hikes by the Federal Reserve this 12 months, Gundlach mentioned: “All issues being equal, the Fed will hike in June.” He expects two hikes this 12 months with three potential.

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