30Y TSY Yield Nears 3.00% - Triggers Gundlach's "Bonds Will Damage Stocks" Threshold

While all eyes are on the 10Y, it's the 30Y bond that is bloodbath-ing today with its yield snapping above October's highs, breaking towards 3% for the first time since May 2017...

Notably, 30Y at 3% was DoubleLine's Jeff Gundlach's Second Trigger for bonds to damage stocks (after his first trigger -10Y crossing 2.63% - hit earlier in the month):

Reminding his audience of the rivalry between himself and Bill Gross, Gundlach disagreed with the former bond king, who made headlines today with his statement that the bond bull market is over, and said that "Gross is too early with his TSY bear market call."

What is the catalyst for Gundlach? As he explained, one "needs to see the 30Y at 2.99% or above for the trendline to break."

And it just did...