“Jeffrey Gundlach, chief executive and chief investment officer of DoubleLine Capital, said Thursday that the yield on the 10-year U.S. Treasury note could hit 3.10 percent by the end of the year,” Reuters reports. “Gundlach said the market will be in “nervous condition” once the Federal Reserve reduces its $85 billion in monthly bond purchases, and recommended that investors seek yield in mortgage real estate investment trusts and closed-end bond funds.”
“Gundlach, who said last year that he was shorting the stock of Apple Inc. at $610 and correctly predicted that the company’s stock price would fall to $425, said Thursday that the technology giant will have ‘problems’ when it starts trading around $530 a share,” Reuters reports. “Apple shares were percent at $494.69 on Thursday afternoon.”
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