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DoubleLine’s Gundlach: Now is the time for capital preservation
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FILE PHOTO – Jeffrey Gundlach, CEO of DoubleLine Capital LP, presents during the 2018 Sohn Investment Conference in New York City, U.S., April 23, 2018. REUTERS/Brendan McDermid
NEW YORK (Reuters) – Jeffrey Gundlach, who runs DoubleLine Capital, said on Tuesday that investors should focus on capital preservation and avoid corporate bonds as well as Treasuries, against the backdrop of intensifying inflationary pressures.
Gundlach, known on Wall Street as the Bond King, said that investors have not shown an appetite for Treasuries, even as the U.S. stock market plunges. “There’s no bond rally,” Gundlach said in a telephone interview. “Obviously, it is not a deflationary bear market, otherwise you would have a bond rally.”
Reporting by Jennifer Ablan; Editing by Leslie Adler
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