Jeffrey Gundlach slides from the DoubleLine Total Return Fund webcast.

Jeffrey Gundlach – The Trump Effect

“Well, Mr. politician, reform me if you can I’m an anti-establishment man” – REO Speedwagon, Anti-Establishment Man

Wealth Inequality

Jeffrey Gundlach

Trump 2016 vs. Reagan 1981

Jeffrey Gundlach

*Reagan stats as of 12/31/1980, Source: State Street; Bloomberg; DoubleLine

GDP = Gross Domestic Product which is the amount of goods and services produced within a given country. YoY = year-over-year, CPI = Consumer Price Index measures the weighted average price of a basket of goods and services, such as transportation, food and medical care. LEI =is the International ISO standard 17442. LEls are identifications codes that enable consistent and accurate identification of all legal entities that are parties to financial transactions, including non-financial institutions. ISM = ISM Manufacturing Index is based on a survey of 300 manufacturing firms by the Institute of Supply Management. IP = Intellectual property is a broad categorical description for the set of intangibles owned and legally protected by a company form outside use or implementation without consent. DXY = US. dollar spot index indicates the general international value of the US dollar by averaging the exchange rates between the USD and major world currencies. PE = price/earnings ratio is the ratio of valuing a company that measures its current share price relative to tis per-share earnings. You cannot invest directly in an index.

U.S. Manufacturing Jobs Decline Since NAFTA (1993)

Jeffrey Gundlach

Source: BLS = Bureau of Labor Statistics, January 1, 1993 through December 6, 2016

NAFTA = North American Free Trade Agreement

U.S. Trade Surplus/ Deficit

As of November 28, 2016

Jeffrey Gundlach

Senators Up For Re-Election in 2018

Jeffrey Gundlach

U.S. Tax Revenue Sources

Jeffrey Gundlach

U.S. Budget Demands Have Changed

Jeffrey Gundlach

U.S. Defense Spending

Jeffrey Gundlach

GDP = Gross Domestic Product is the amount of goods and services produced within a given country. Bps = basis points. You cannot invest directly in an index.

Real Public Construction

January 1, 1973 through October 31, 2016

Jeffrey Gundlach

S&P 500 Sector Performance

August 8, 2016 through December 8, 2016

Jeffrey Gundlach

See the full PDF below.