Jeffrey Gundlach on U.S. Debt, Private Credit and Gold | The Julia La Roche Show

DoubleLine CEO-CIO Jeffrey Gundlach visits The Julia LaRoche Show for a wide-ranging macroeconomic conversation on the U.S. fiscal crisis, rising long-term interest rates and why American investors are dangerously overexposed to domestic assets. Mr. Gundlach argues the secular decline in interest rates is over, long-term U.S. Treasury yields will continue rising even through a recession, and the U.S. faces two difficult paths forward: currency debasement or a soft default on Treasury obligations. He also details why DoubleLine is at its lowest risk position in the firm’s 17-year history, makes the case for emerging markets equities and gold, and he explains why private credit will be the next major source of systemic stress – drawing parallels to the subprime mortgage market ahead of the 2008 financial crisis.

Mr. Gundlach also weighs in on the Federal Reserve’s next move (potentially a hike); the precarious fiscal situations in California, Illinois and New York state; why he’s avoiding general obligation municipal bonds; and closes with a shakeup prediction for the 2028 presidential election.