December 1, 2016 / 5:55 PM / 3 years ago

Gundlach: Market rally could reverse 'at the latest' by Trump's inauguration

NEW YORK, Dec 1 (Reuters) - 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 Thursday.

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)

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