J. Gundlach: A correction in the summer

Interest rates will rise, and stocks will fall temporarily this summer, predicted the famous investor Jeffrey Gundlach, in an interview with CNBC.
Gundlach expects interest rates on 10-year US bonds to rise and in the summer to expect a rise in Fed interest rates that will come along with a stock market correction.
"I think it's much more likely that stocks will fall when interest rates rise," Gundlach said in the interview.
Gundlach is the head of the DoubleLine Fund and speaks during a closed conference about the hedge fund industry.
Interest rates on 10-year bonds lately are at levels close to 2.28%, or with a decline of 2.432 at the end of last year.
Meanwhile, the S&P 500 has not fallen by more than 10% since its last peak in February last year.
Gundlach reminds, however, that there is still no recession "on the horizon". The US economy is expected to accelerate its growth in the second quarter. For comparison, GDP growth in the first quarter of the world's largest economy has been weakest in three years.
With regard to gold, Gundlach predicts that the noble metal will have the potential to rise, and oil will continue to experience downward pressure over the long term due to its improved extraction technology.
"Generally, raw materials are likely to fall behind inflation, due to technological changes," the expert also predicts.