Bond Rout Sounds Warning for Equities That Higher Rates Can Hurt
- Yields have climbed past key points to signal further gains
- Gundlach sees 3% looming for Treasuries; Dalio says party over
Why Gundlach Thinks the Bond Wipeout Has Just Begun
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Is the bond rout over? You ain’t seen nothing yet and stock investors should take note.
The global equity rally that’s repeatedly shrugged off rising geopolitical uncertainty now faces a new test: the apparent certainty of higher borrowing costs. The spike in bond yields is just getting started, according to legendary fixed-income investor Jeffrey Gundlach. For Ray Dalio at the world’s largest hedge fund, the era of central-bank stimulus is now over.