Jeffrey Gundlach’s DoubleLine Asset Allocation webcast slides.

Jeffrey Gundlach – TAB I – U.S. Overview

The Most Synchronized Economic Upturn in Years

December 31, 2009 to April 4, 2017

Jeffrey Gundlach - Fed

Source: Citigroup, Bloomberg

The Surprise Indices are objective and quantitative measures of economic news. They are defined as weighted average historical standard deviations of data surprises for countries indicated.

Major Economies refers to developed markets. You cannot invest directly in an index.

EU PMI suggests rate hike on horizon

Jeffrey Gundlach - Fed

Source: Markit

EU = European Union, PMI = Purchasing Managers’ Index, ECB = European Central Bank.

Fed may not be the only DM Central Bank to Hike in 2017

Jeffrey Gundlach - Fed

Source: Bloomberg

DM = Developed Markets

Citigroup Global Inflation Surprise Index

December 31, 1999 to March 31, 2017

Jeffrey Gundlach - Fed

Source: Citigroup, Bloomberg

CSIIGL Index = The Citigroup Surprise Index, Global measures price surprises relative to market expectations. A positive readingmeans that inflation has been higher than expected and a negative reading means that inflation has been lower than expected. You cannot invest directly in an index.

Chinese, South Korea and Japan PPI

December 31, 2006 through February 28, 2017

Jeffrey Gundlach - Fed

Source: Bloomberg

The Producer Price Index (PPI) program measures the average change over time in the selling prices received by domestic producers for their output. The prices included in the PPI are from the first commercial transaction for many products and some services. One cannot invest directly in an index.

French vs. German Unemployment % Since EURO Introduction

March 31, 2000 to December 31, 2016

Jeffrey Gundlach - Fed

Source: Bloomberg, DoubleLine

EUR = Euro is the currency of the Eurozone. You cannot invest directly in an index.

50 Year French Bond Price

March 1, 2016 to April 4, 2017

Jeffrey Gundlach - Fed

Source: DoubleLine, Bloomberg

NFIB Small Business Confidence Jumped Sharply Lately

March 31, 1987 to February 28, 2017

Jeffrey Gundlach - Fed

Source: Bloomberg

You cannot invest directly in an index.

NFIB = National Federation of Independent Business

ISM Manufacturing and Services PMI

January 31, 1997 to March 31, 2017

Jeffrey Gundlach - Fed

Source: Bloomberg, DoubleLine

ISM Manufacturing Index is based on surveys of more than 300 manufacturing firms by the Institute of Supply & Management. PMI= Purchasing Managers’ Index is an indicator of the economic health of the manufacturing sector based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment. You cannot invest directly in an index.

See the full slides below.