Gundlach: Avoid global 30-year bond exposure

This signals a notable shift in tone from a prominent fixed-income voice, reinforcing caution around the longest-duration assets. The concern centers on how sensitive 30-year bonds are to shifts in yield expectations, making them a high-risk pocket of the market if inflation or term premiums reprice. The focus now is whether this view gains traction among other large allocators, and whether it accelerates any rotation away from long-duration exposure in portfolios.