DoubleLine's Gundlach says his base case is one rate cut this year, two reductions maximum
1. Gundlach expects one to two rate cuts maximum in 2025. 2. Fed holds rates steady, awaiting data on labor and inflation. 3. He believes long-duration Treasury yields have room to rise. 4. Cautions against high-risk assets due to high valuations. 5. Gundlach suggests slow process to future rate cuts.