DoubleLine Funds just blasted an email alerting everyone that bond god Jeff Gundlach would be hosting a surprise webcast Thursday.
Gundlach just held a webcast on June 4, and his next webcast was scheduled for September 10.
So, why is he doing this?
Well, we think Gundlach is probably getting inundated by calls from clients about his bullish forecasts for Treasury bonds.
Even as rates surged, Gundlach doubled down last week and told CNBC that Treasuries were “the one place” to make money.
For you beginners, bond prices fall when yields rise.
Currently, the 10-year yield is at 2.54%, and it was as high as 2.62% earlier this week.
While we’re on the subject of out-of-the-money calls, Chipotle is up 9.6% since Gundlach recommended shorting the stock on April 11.
For both Treasuries and Chipotle, Gundlach may be proven right in the long-term. He is, afterall, a long-term thinker. We expect him to reiterate this tomorrow.
Anyway, here’s a look at the performance of the 10-year U.S. Treasury yield. You can probably see why Gundlach’s followers have raised their eyebrows.
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