DoubleLine's Gundlach says Fed unlikely to reduce stimulus in October

NEW YORK Thu Sep 26, 2013 4:53pm EDT

Jeffrey Gundlach, star bond investor and head of DoubleLine Capital LP, is photographed during an interview in New York May 15, 2013. REUTERS/Adrees Latif

Jeffrey Gundlach, star bond investor and head of DoubleLine Capital LP, is photographed during an interview in New York May 15, 2013.

Credit: Reuters/Adrees Latif

NEW YORK (Reuters) - Jeffrey Gundlach, chief executive of DoubleLine Capital, said Thursday that the U.S. Federal Reserve is not likely to scale back the pace of its monthly bond-buying during its meeting in October.

The Fed's $85 billion in monthly bond purchases will likely continue through January given the small likelihood of a "monumental change" in U.S. economic data, Gundlach said on an investor webcast.

The Los Angeles-based DoubleLine Capital had $57 billion in assets as of June 30.

(Reporting by Sam Forgione; Editing by Diane Craft)

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