Jeffrey Gundlach

The U.S. Debt Clock is at $36.999 Trillion and spinning like a Tokyo taxi meter. $37 Trillion for real is just hours away. *Yippee*!

Somehow I doubt the developments of the past week will increase private investment in Los Angeles.

Reporting from ground zero. Karen Bass: A few hours ago : the protests are peaceful. Now: we are implementing a curfew.

The situation currently underway in Paramount California sort of looks like civil war.

A rise in the 30 Year US Treasury yield to above 5.18% would take it to a new eighteen year high.

Treasury yields have been rising on a trend basis while the dollar has been falling on a trend basis. This paradigm’s likely emergence, and the reasons behind it, have been described many times in my 5webcasts and media appearances.

Who is still funding Tim Walz?

Halfway through fiscal year 2025, the U.S. Budget deficit increased by $1.3 trillion. So we are up to a $2.6 trillion annual rate. That rounds up to an incredible 9% of GDP. The fit is hitting the shan.

The 30 year US Treasury yield is going vertical.

When public markets experience a sharp decline, like now, it is nonsensical to think private markets are a harbor in the storm. Yet I have heard this absurd assertion twice in the past week. “Don’t worry, we’re not down”. Sure.

The 2 year UST yield now sits at exactly 3.5%, suggesting the Fed Funds rate is at least for now viewed to be 75 basis points too high. Yet I do not see a single cut any time soon, unless the losses in risk assets greatly increase.

The Dow Jones Industrial Average, the S&P 500 and the NASDAQ are now, with the present futures market openings, negative in price change year-over-year.

No, US bond market credit spreads are not “well contained.” Since year end, the extra interest Junk Bond companies need to pay to borrow vs the US Treasury have increased by 140 basis points. I predicted this in an interview with Scott Wapner the day after the last Fed meeting.

It is not an option, it is essential: Without reducing spending the United States will go bankrupt. Cut, baby, cut!

There are basically two camps now regarding US Government spending. One that benefits from the systemic multi trillion dollar deficit funded circular financing scheme and one that wants that slush fund to stop.

Fed Day tomorrow. Most predictable “no change” in recent years. The Fed’s “dual mandate” will be the focus of Powell’s presser. Should be more than ever since there is now a tension between those two mandates. Per usual, doing CNBC with Scott Wapner immediately following…

Sadly, but as expected, Newsom actually spoke of the rebuilding process as a way of “reimagining LA 2.0” Gavin, we have had more than enough of your “reimagining”.

Wide swathes of Pacific Palisades are burned to the ground. Malibu by PCH too. The “rebuild” process will shape the future of Los Angeles.

Gavin Newsom, the “Governor of California”, needs to resign today.

Karen Bass, the “Mayor of Los Angeles”, needs to resign effective the day before yesterday.