Jeffrey Gundlach says if you want to know where stocks are going next, watch bitcoin

Gundlach — the founder of DoubleLine Capital — is one of the leading bond managers, often referred to as the “bond king.”

Earlier on Friday, Gundlach expressed doubt that wages can go up without sparking a sharp increase in inflation. Concerns of rising inflation sent stocks reeling earlier this month, after the Labor Department reported much higher-than-expected annualized wage growth.

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