Doublelines's Gundlach says Fed won't hike in 2015

Yellen said today that the Fed is likely to hike in 2015 but Jeffrey Gundlach says she's wrong. The new bond king has long taken a dovish view on the Fed and he's been right.

His simple explanation is that Yellen expects economic data to continue to improve; he doesn't. If he's wrong, he said that when the Fed has hiked rates and nominal GDP growth was less than 5%, it's had to reverse course.

On bonds, he said they're entering a secular bear market and yields will continue to 'melt up'.

What fewer people are talking about is that the US dollar looks like it's poised for another breakout. That ramp may further hurt US trade and weaken the economic outlook.

Larry Fink, Paul Singer and Carl Ichan are also set to speak at the Delivering Alpha conference. Here is the schedule.