Jeff Gundlach says he is looking for a lot of short term market reversals

Gundlach is founder and head of DoubleLine Capital, from his monthly webcast

• Says he is looking for a lot of short-term reversals in markets

Given the moves in US yields today this makes sense.

( for the gold folks, warnings of this fropm last week:

• yields are a key to watch for the gold outlook, should they rise or show reasons to rise that will be a factor reducing the demand for gold.

and again yesterday

• fall in gold prices have been led by, yes you guessed it - rising yields.

)