Gundlach: U.S. High Yield Spread Heading Into Recession

Original Post
Jeffrey Gundlach's DoubleLine Asset Allocation webcast for the month of November 2018, discussing the U.S. high yield spread heading into recession.
TAB I - Global Overview G4 Central Banks' Balance Sheets

Fed = Federal Reserve, BOJ = Bank of Japan, ECB = European Central Bank, BOE = Bank of England
G4 Central Banks' Balance Sheets & Global Equities

Fed = Federal Reserve, BOJ = Bank of Japan, ECB = European Central Bank, BOE = Bank of England
S&P 500 vs. MSCI ACWI (ex-US) Normalized 1/26/18

Source: Goldman Sachs as of September 4, 2018
U.S. = S&P 500 Index includes 500 leading companies and captures approximately 80% coverage of available market capitalization. MSCI ACWI Index is a free-float weighted equity index for developed and emerging market countries (ex-US). EPS = Earnings per share. You cannot invest directly in an index.
U.S. Outperformed the Rest of the World

Source: Goldman Sachs as of September 4, 2018
U.S. = S&P 500 Index includes 500 leading companies and captures approximately 80% coverage of available market capitalization. MSCI ACWI Index is a free-float weighted equity index for developed and emerging market countries (ex-US). EPS = Earnings per share. You cannot invest directly in an index.
Gross Domestic Product - Real and Nominal

Source: Bloomberg
YoY - year-over-year; GDP = Gross Domestic Product includes the total amount of goods... Read more