Jeffrey Gundlach: EBITDA Growth is Anemic; USTs 60% of Positive Yielding G10 Debt

Jeffrey Gundlach’s DoubleLine Total Return Bond Fund webcast titled, “Timing & Strategy.”

Government Bonds With Negative Yields Near $8T

July 31, 2014 to May 26, 2016

Up-and-Coming Small- and Mid-cap Portfolio Managers #MICUS (Morningstar Conference)

InvestorsNotes from Laird Bieger of Baron Capital, Mark Wynegar of Tributary Capital Management, and Amy Zhang of Alger Funds' presentation from the 2020 Monringstar Investment Conference. Q2 2020 hedge fund letters, conferences and more Up-and-Coming Small- and Mid-cap Portfolio Managers Our manager research team has been publishing its semiannual Morningstar Prospects report for several years. Read More


Jeffrey Gundlach

Negative Rates Governed By Central Banks

January 1, 2012 to March 31, 2016

Jeffrey Gundlach

Source: FactSet, Oxford Economic, GDP share measured in nominal U.S. Dollars

As of March 31, 2016

GDP = Gross Domestic Product is the amount of goods and services produced within a given country/territory.

Negative Growth Revision Patterns Are Too Familiar

Jeffrey Gundlach

As of March 31, 2016 and projected through 2017

GDP = The amount of goods and services produced within a given country or territory. G7 = The world’s most powerful industrialized countries: US, Japan, Germany, UK, France, Italy and Canada. EU also represented.

World Growth Forecasts (GDP)

As of June 6, 2016 Projected 2016

Jeffrey Gundlach

Source: Bloomberg

GDP = Gross Domestic Product is the monetary value for all the finished goods and services produced within a given country.

ECB Monetary Policy Announcements & USD /EUR Performance

(3 months Leading Up to and 3 months Proceeding Central Bank Announcements)

Jeffrey Gundlach

Source: Bloomberg; DoubleLine as of date indicated in chart through May 31, 2016.

USDEUR = US Dollar vs. Euro exchange rate, ECB = European Central Bank, representing: Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom. $EUR – ECB QE = Euro spot price in U.S. dollars minus European central Bank quantitative easing. You cannot invest directly in an index.

Bank of Japan Monetary Policy Announcements & USD/JPY Performance

(3 months Leading Up to and 3 months Proceeding Central Bank Announcements)

Jeffrey Gundlach

Source: Bloomberg; DoubleLine as of date indicated in chart through May 31, 2016.

USDJPY = Japanese yen quoted in U.S. dollar terms. Japanese yen spot price in U.S. dollars minus Bank of Japan’s quantitative and qualitative easing 1 program. $JPY – BOJ QQE2 = Japanese yen spot price in U.S. dollars minus Bank of Japan’s quantitative and qualitative easing 2 program. $JPY – BOJ Neg Rates= Japanese yen spot price in U.S. dollars minus Bank of Japan’s negative interest rates. You cannot invest directly in an index.

See full PDF below.