DoubleLine Capital

In his “Clue” webcast, Jeffrey Gundlach uses the classic board‑game analogy to pinpoint the United States’ financial “murderer” as a deficit‑driven, circular financing scheme riddled with fraud and policy missteps, then walks through the 2025 market outcomes that reflect this dysfunction. He highlights the year’s strong equity and emerging‑market gains, soaring gold and commodities, overvalued bond valuations, steepening Treasury yields, and a weakening dollar—signals that long‑term rates and fiscal health remain under severe pressure.

In this episode Jeff Mayberry and Ryan Kimmel recap a stellar 2025, highlighting a 17.9% gain for the S&P 500 (tech up ~25%), strong bond returns (Bloomberg Agg +7.3%, agency mortgages +8.6%), commodities up nearly 16%, and especially outsized non‑U.S. equity rallies such as Korean stocks +83% and Euro‑Stoxx +37%. They then shift to early‑2026 market conditions, reviewing mixed December payroll data, a modest decline in the unemployment rate to 4.4%, the Fed’s pause‑focused rate‑cut outlook, and key upcoming releases including CPI, PPI, and retail sales.

.In the interview, DoubleLine Deputy CIO Jeffrey Sherman says that despite heightened geopolitical tensions, markets have largely insulated Treasury yields and commodities, and he remains cautious on risky assets like Venezuelan bonds while noting a modest rally in 10‑year Treasuries last year. He projects inflation staying near 3 % through 2026, sees the 4.20 % real yield as attractive, expects a potential breakout to 4.5 % yields, and favors emerging‑market local‑currency bonds as a higher‑yield, better risk‑reward play amid a medium‑term dollar decline.

In this informative video, Phil Joya and Andrew Shu delve into the securitization process, emphasizing the importance of the balance sheet in structured finance. Viewers will gain insights into the transparency of securitized markets, the relationship between assets, liabilities, and equity, and the lessons learned in market practices following the 2008 financial crisis.

In this episode of Double Line Minutes, Eric Dah and Ryan Kimmel reflect on the market performance as 2025 comes to a close, noting solid gains in stocks, bonds, and particularly precious metals like gold and silver. They discuss economic trends, including labor market data, inflation, and consumer sentiment, while preparing listeners for the upcoming year and encouraging a joyful holiday season.

En este video, Joel Peña analiza el déficit fiscal y la creciente deuda pública de Estados Unidos, destacando cómo la Reserva Federal continúa imprimiendo dinero mientras las tasas de interés y los pagos de deuda aumentan. A través de gráficas, se examina el impacto de estas políticas en la inflación y en la economía global, evidenciando los desafíos a largo plazo que enfrenta el país.

Join host Ken Shenoda as he wraps up 2025 with a comprehensive review of the year's market performance, highlighting major trends, sectors, and notable shifts in equities and fixed income. Discover insights on the impact of AI investment, international markets, and predictions for the upcoming year in this engaging recap of the financial landscape.

In this video, Phil Joya leads a discussion with Double Line's portfolio managers about the 2026 credit market outlook, addressing current conditions, risks, and investment opportunities. The panel emphasizes the importance of careful credit selection in a choppy market climate influenced by factors such as AI and diverse sector performances, urging investors to remain vigilant amidst tightening spreads and potential volatility.

In this episode of Double A Minutes, hosts Jeff Mayberry and Mark Kimbro discuss the latest fluctuations in the stock and bond markets, highlighting a mixed performance with tech and utilities lagging behind while financials showed gains. They also delve into recent labor market data and the Federal Reserve's interest rate decisions, indicating ongoing concerns about weak labor conditions and the potential impact of inflation moving forward.