Sounds like he is looking to turn the market around
DoubleLines Jeffrey Gundlach is on the newswires saying he:
- Likes bonds
- Likes gold
- Does not like stocks (Financials)
- Does not like the dollar
He said they bought bonds earlier in the week and thinks that the market is way ahead of itself on the potential impact of President-elect Trump.
"The bar was so low on Trump to the point people were expecting markets will go down 80% and global depression -- and now this guy is the Wizard of Oz and so expectations are high"
He thinks that financial markets could reverse the solid momentum in equities by the inauguration day.
The 10 year note just reached a high yield of 2.4919%. It is trading at 2.46% now. The S&Pis trading at the lows for the day at 2189 (down -0.40%). The Nasdaq is down -1.38%. Gold is trading at $1167, off the low at $1161. The USDJPY is back down to 114.40 after rising to another lower high intraday at 114.64 on the last push higher.
Gundlach manages more than $106 billion.