March 13, 2018 / 9:01 PM / a year ago

DoubleLine's Gundlach: 10-year Treasury yield will likely break to upside

NEW YORK, March 13 (Reuters) - Jeffrey Gundlach, the chief executive of DoubleLine Capital and known as Wall Street as the “Bond King,” said on Tuesday the yield on the U.S. 10-year Treasury note will likely move higher.

Gundlach, on an investor webcast, said massive U.S. Treasury supply to fund the ballooning U.S. fiscal deficit along with “Quantitative Tightening” by the Federal Reserve will lift bond yields. (Reporting By Jennifer Ablan and Trevor Hunnicutt)

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