Gundlach says Fed hike is 'a bad idea'

DoubleLine Capital bond king Jeffrey Gundlach:

• 'To raise rates when junk bonds are near at a four-year low is a bad idea'
• If the Fed starts raising rates in Sept 'it opens the lid on Pandora's Box of tightening cycle'
• Copper and commodity price drops reflect global economic weakness, 'China should be a huge concern.'

This is nothing new from Gundlach.