Jeff Gundlach just gave this exclusive presentation to a room full of investors at the New York Yacht Club
DoubleLine
Chuang Zhu's quote Gundlach used as a jumping off point was, "You cannot discuss ice with a summer insect."
Gundlach said this applies to the high-yield bond, market because for the entire time that the asset class has existed, it "has not experienced a secular rise in interest rates."
The message from Gundlach here is that in the 30 or so years that junk bonds have existed, there has never been a long, extended rise in interest rates.
Gundlach spent much of his presentation talking not as much about what is imminent for high yield bonds, but about what could be coming for these assets over the next several years.
Thanks to DoubleLine Funds for letting us featuring this presentation.
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- RBI initiates transition plan: Small finance banks to ascend to universal banking status