October 4, 2018 / 8:16 PM / 11 days ago

DoubleLine's Gundlach: 30-year U.S. Treasury signals higher bond yields

NEW YORK, Oct 4 (Reuters) - Jeffrey Gundlach, CEO of Doubleline Capital, on Thursday said the 30-year U.S. Treasury bond yield has broken above a multi-year base, which should lead to significantly higher yields for financial markets.

“As I have been saying, two consecutive closes above 3.25 percent on the benchmark 30-year Treasury means that my statement in July 2016 that we were seeing the low - I said italicized, underlined and in boldface - is now, looking at the charts, thoroughly corroborated,” Gundlach told Reuters.

On Thursday, the 30-year Treasury note closed at 3.35 percent, compared with 3.34 percent on Wednesday. (Reporting By Jennifer Ablan)

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