Bank stocks, which are tethered to expectations for interest rates and loan losses, are considered an early indicator for the broader markets.
The yield on the benchmark 10-year Treasury note sank to a record low of 0.676% at 9:46 a.m. ET, extending its break below 0.7% for the first time ever.
Friday's declines came as the benchmark 10-year Treasury yield tumbled below 0.7% for the first time ever.
Bernie Sanders has struggled to bring in younger voters, so Biden probably will, too, Gundlach said.
"When I say panicked, it doesn't mean it's not justified," DoubleLine Capital CEO Jeffrey Gundlach said about the Fed's surprise cut this week.
Rekindled coronavirus angst sparked fresh bids for U.S. debt on Thursday, sending the rate on the benchmark 10-year note back to an all-time low.
Bridgewater's co-chief investment officer Greg Jensen said gold prices could rally to $2,000 an ounce.
Gundlach said the biggest risk in 2020 is Sanders becoming "more believed in as a real force" that investors will have to take seriously.
'"When you hear that, that the Fed is cheerleading inflation higher ... what that says is that the path of least resistance for the 10-year is higher," Gundlach said.
Jeffrey Gundlach is not worried about a possible recession in 2020, saying on Wednesday that he thinks it's "very unlikely" one will happen.
The so-called bond king said the benchmark 10-year Treasury yield should be back at 2%.
DoubleLine Capital's Jeffrey Gundlach spoke to CNBC on Wednesday ahead of the Federal Reserve's decision on interest rates.
DoubleLine CEO Jeffrey Gundlach said the Federal Reserve might need to embark on quantitative easing to increase the money supply.
DoubleLine CEO Jeffrey Gundlach believes the bottom for interest rates is in for 2019.
DoubleLine's Jeffrey Sherman tells CNBC that August's Treasury bid may have been overdone and said gold could be a good recession play.
Dow to open higher; strong retail earnings; Gundlach says Fed lost control; negative-yielding corporate debt soars; and Trump on payroll tax cut
80% of investing on Wall Street is tied to passive or quantitative funds, JP Morgan estimates.
Jeffrey Gundlach expects the dollar to finish the year lower.
DoubleLine CEO Jeffrey Gundlach believes the recent slump in long-term U.S. government debt yields will likely pause.
The so-called bond king Jeffrey Gundlach is not shy when it come to rebuking the increasingly popular theory backed by progressives — the Modern Monetary Theory.