Bond guru Jeffrey Gundlach, founder of DoubleLine Capital, said the 10-year Treasury yield was too low in a Tuesday webcast. He attributed his bearish stance to the current state of the U.S. economy and the Federal Reserve’s plans to raise rates. “I just don’t like 10-year Treasurys at this level, they don’t have any business being down here,” he said. Bond yields move inversely to prices. Gundlach said it was no surprise that the 10-year yield bounced off the psychologically significant 2% level this week, rising to 2.17% on Tuesday.
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From:: Stock Market News