Gundlach's Alarm: 10-Year Treasury Yields Break Key Level

Billionaire bond investor Jeffrey Gundlach's "fire alarm" is going off as the 10-year Treasury yield drops below 4% following the Federal Reserve's signal of potential rate cuts in 2024. Gundlach predicts a recession next year and expects the 10-year rate to fall into the "low threes" in 2024. He advises investors to switch from short-dated T-bills to long-duration Treasurys once a recession hits, as he believes money market funds are unlikely to flow into the stock market but rather into bonds.