March 15, 2017 / 5:28 PM / 10 months ago

Gundlach expects short-term rally in U.S. Treasuries on hawkish Fed -CNBC

March 15 (Reuters) - Jeffrey Gundlach, chief executive officer of DoubleLine Capital, said on Wednesday he expected a short-term rally in U.S. Treasuries and that investors should “use the strength” in U.S. stocks to take profits and diversify in overseas markets.

“I am surprised with the relentless nature” of equities after the election of U.S. President Donald Trump, Gundlach said on CNBC. Gundlach, who oversees more than $101 billion in assets at Los Angeles DoubleLine, said he continued to short the shares of Chipotle Mexican Grill Inc, although he lost a lot of money at the beginning of his trade. (Reporting by Jennifer Ablan; Editing by Lisa Von Ahn)

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