DoubleLine Funds June 2017 Webcast – Corporate Debt to GDP [Slides]

Jeffrey Gundlach’s DoubleLine Fund webcast slides for the month of June 2017, titled, “Small Change.”

[hedging]

DoubleLine Funds – TAB I – Global Economy

PMI – Eurozone vs. U.S.

Charlie Munger: Invert And Use “Disconfirming Evidence”

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Source: Citigroup, Bloomberg

Markit Eurozone Manufacturing PMI (Purchase Managers Index – seasonally adjusted). PMI 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.

Low Volatility is Common Across Most Assets & Markets

As of May 17, 2017

Jeffrey Gundlach's DoubleLine Fund

Source: BAML

FX = Foreign Exchange, Comdty = Commodity, Imp = Implied, HY = High Yield, IG = Investment Grade, EURUSD = Euros in US dollars, GBPUSD = British pound sterling in US dollars, USDJPY = US dollars in Japanese yen, CDS = credit default swap. Please see appendix for index definitions (SP500, Nikkei, FTSE, ESTX50). You cannot invest directly in an index.

TAB II – U.S.

Real GDP Growth by Decade

Jeffrey Gundlach's DoubleLine Fund

Data Source: Measuring Worth *2010?2016

GDP = Gross Domestic Product measures the overall amount of goods and services produced within a given territory/country. You cannot invest directly in an index.

U.S. Real GDP: “Noisy ?!?!”

Jeffrey Gundlach's DoubleLine Fund

Source: Bloomberg

GDP = Gross Domestic product is the amount of goods and services produced within a given country. Real GDP is inflation adjusted. YoY = year?over?year. You cannot invest directly in an index.

U.S. Nominal GDP Forecasts

January 1, 2011 through April 30, 2017

Jeffrey Gundlach's DoubleLine Fund

Source: Bloomberg

GDP = Gross Domestic product is the amount of goods and services produced within a given country. Nominal GDP is not adjusted for inflation. You cannot invest directly in an index.

Corporate Debt to GDP

Jeffrey Gundlach's DoubleLine Fund

Source: Bloomberg

GDP = Gross Domestic product is the amount of goods and services produced within a given country. Nominal GDP is not adjusted for inflation. SAAR = Seasonally adjusted annual rate.

FOF = Flow of funds.

You cannot invest directly in an index.

U.S. Conference Board Leading Economic Indicator

Jeffrey Gundlach's DoubleLine Fund

Source: Bloomberg, DoubleLine

Conference Board U.S. Leading Index = Leading indicators include economic variables that tend to move before change in the overall economy. These indicators give a sense of the future state of an economy. You cannot invest directly in an index.

Consumer Debt

December 31, 2004 to March 31, 2017

  • Americans owe more than $4.1 trillion in non?mortgage debt. $2.09 in credit card and student loans.
  • Even more than mortgage debt records set at the height of the housing bubble

Jeffrey Gundlach's DoubleLine Funds

Source: 60 Second Statistics

You cannot invest directly in an index.

See the full PDF below.