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Gundlach: Trump trade has topped out

Dec. 02, 2016 8:01 AM ETGLD, TLT, UUP, UDN, TBT, DBL, DBLFX, DBLTX, TOTL, OPPBy: Stephen Alpher, SA News Editor36 Comments
  • "The bar was so low on Trump to the point people were expecting markets will go down 80% and global depression - and now this guy is the Wizard of Oz and so expectations are high," Jeff Gundlach tells Reuters. "There's no magic here."
  • Back to reality: Government programs take time to implement, rising mortgage rates aren't great for the "psyche" of the middle class, and HRC supporters are in no mood to spend money.
  • "There is going to be a buyer's remorse period," he says. Yields (TLT, TBT) have peaked and should move sideways from here, the dollar (UUP, UDN) is going to fall, and gold's (NYSEARCA:GLD) next move is higher.
  • DoubleLine Total Return Bond Fund (DBLTX, TOTL) is up 2.12% through the end of November, besting 63% of peers. On a three-year basis, it's up 3.46% annualized, topping 93% of peers.
  • Other notable funds: DBL, OPP, DBLFX

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