This is a terrible sign for the condition of the market for anybody who’s experienced a significant number of cycles, which I’ve definitely experienced,” Gundlach said.
- The coronavirus rout brought a copious amount of new accounts to online brokers this year as amateur investors sought to get a slice of the epic market comeback.
Gundlach also snubbed one of the market’s favorite trades on a U.S. recovery, saying he’s “betting against” the inflation-linked bond market.
TIPS products have seen some of the strongest monthly inflows in four years, and market-implied expectations for inflation have touched a 2020 high.
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