Jeffrey Gundlach, manager of the top-ranked DoubleLine Total Return Bond Fund, said U.S. Treasurys will be the best-performing asset class for the next few months.

“Government bonds are also caught up in price deflation of assets and commodities, but I just think if bond yields rise further then it seems crystal clear to me then equities and commodities will tank,” Gundlach said in a telephone interview Thursday. “Therefore, you’ll lose less in Treasurys if rates rise than many other asset classes.”