(RECAP: Bond guru Jeffrey Gundlach told CNBC on Friday that if the Federal Reserve doesn’t raise interest rates in December, “they are never going to raise rates again.” He also said the rise in Treasury yields “is about 80 percent of the way through.” Gundlach said the sharp turn up in rates since summer already has done the heavy lifting for the U.S. central bank. The benchmark 10-year note has seen a 0.77 percentage point rise since July 6, while the two-year yield has jumped .36 percentage points, all while the Fed has kept the overnight rate anchored below 0.5 percent. Traders are putting a 76.3 percent chance of a rate hike at the Dec. 13-14 meeting of the Federal Open Market Committee. However, they don’t see the next move happening until at least September 2017.)
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