Global economic worries, centered in China, could create a 50-50 chance that the U.S. Federal Reserve reverses its plans to taper asset purchases by $10 billion a month, money manager Jeffrey Gundlach told CNBC on Wednesday.
"My suspicion is that they will not end quantitative easing in 2014 and there will be some reason, probably because of some market volatility, to slow down the taper, to probably stop the taper," said Gundlach, the co-founder and CEO of DoubleLine Capital.
In interview on "Squawk on the Street," Gundlach said he's worried that China saw too much growth too soon, and he questioned whether the country has the financial controls to handle its rapidly expanding economy. Asked why he thought the Fed could perform an about-face on its taper plans, Gundlach said global economic growth hasn't met expectations.
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Gundlach added that yields on benchmark 10-year Treasury bonds could drop to 2.5 percent or lower in the early part of 2014. He sees a 30 percent chance for a "scramble" into Treasurys that could send yields that low, he said.