Jeffrey Gundlach isn’t surprised by much. But the continuing Trumponomics rally? The one he called time on way back in December? The one that’s gone on way longer than he expected back when he was preparing for the inevitable Trump presidency last summer? Yea, he’s got to admit: That surprises him.
"I am surprised with the relentless nature" of equities after the election of U.S. President Donald Trump, Gundlach said on CNBC.
He’s also a little surprised by just how quaint we’ve all become, as if President Trump has already succeeded in turning the clock back to the 1950s.
"The market is really getting kind of old-school, where the market believes what the Fed says," said Gundlach, widely known on Wall Street as the Bond King. "So what's really important today isn't the interest-rate increase, which we all know is going to happen, but it's what happens with the Fed's rhetoric."