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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
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Why Gundlach Thinks the Bond Wipeout Has Just Begun

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.