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

NEW YORK (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.

FILE PHOTO – Jeffrey Gundlach, CEO of DoubleLine Capital, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid

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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