1 Min Read
NEW YORK, May 10 (Reuters) - Jeffrey Gundlach, the chief executive of DoubleLine Capital, said on Wednesday that European and Emerging Markets equities are more attractive than U.S. equities, and that volatility in stock markets is "insanely low."
"I'd rather much be overseas than in U.S," Gundlach said in an interview. "That's how I felt all year. Part of that was I felt - and it's fading a little bit but it's still a narrative - that the reason people were so bullish on the U.S. is A) it had done really well from 2011 B) they believed the dollar was going to go up a lot more. And I disagreed."
Already, the pan-European STOXX 600 index is up 9.7 percent since the end of 2016, while the S&P 500 is up 7.1 percent in that period. (Reporting By Jennifer Ablan)