NEW YORK Dec 1 Financial markets could reverse
the solid momentum in equities at the latest by U.S.
President-elect Donald Trump's Jan. 20, 2017 inauguration,
Jeffrey Gundlach, chief executive of DoubleLine Capital, said on
The strong U.S. stock market rally, surge in Treasury yields
and strength in the U.S. dollar since Trump's surprising
presidential victory more than three weeks ago look to be
"losing steam," Gundlach, who oversees more than $106 billion at
Los Angeles-based DoubleLine, said in a telephone interview.
"The bar was so low on Trump to the point people were
expecting markets will go down 80 percent and global depression
-- and now this guy is the Wizard of Oz and so expectations are
high," Gundlach said. "There's no magic here."
(Reporting By Jennifer Ablan)