Brian Chappatta, Columnist

Gundlach Sees 6% Yield in 3 Years. Anyone Else?

DoubleLine’s CIO has been prescient on Treasuries this year, but he’s all alone on his long-term view.

June 13, 2018 at 3:07 PM UTC

Brian Chappatta is managing editor of Bloomberg News' leveraged finance and distressed debt teams. He was previously managing editor and team leader of its wealth group. Before that he was a Bloomberg Opinion markets and finance columnist and a bonds reporter for Bloomberg News.

That’s the loneliest number.
Photographer: Patrick T. Fallon/Bloomberg

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Jeffrey Gundlach has had a good run this year handicapping the $14.9 trillion Treasury market.

DoubleLine Capital’s chief investment officer said in January that the benchmark 10-year U.S. yield would keep rising if it broke past the 2017 high of 2.63 percent. It did. In April, just as the yield reached 3 percent for the first time since 2014, Gundlach said he had “low conviction” that it would sustain that level. Sure enough, it has closed below that threshold for 15 consecutive sessions.