(Bloomberg) -- They correctly picked last year's uptick in price growth, but two bond-market heavyweights are now signaling inflation may have seen its zenith.

Pimco is scaling back its outlook for U.S. price growth, saying an increase in job-market participation will dent wage growth and oil's pullback will also be a damper. For DoubleLine's Jeffrey Gundlach, inflation this year has passed its peak, meaning the reflation trade that's dominated markets in 2017 could peter out.

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