DoubleLine Capital founder Jeff Gundlach is out with his latest presentation on the state of markets, called “Penny For Your Thoughts.”
The theme seems to be about currencies and their underlying values — at one point, according to BI’s Mamta Badkar, who covered the presentation live, he gave a shout-out to Bitcoin.
Gundlach ominously observes that the dollar is approaching the historical terminus of global reserve dominance — Spanish escudos, for instance, lasted 110 years, and the U.S. dollar is now at 94. China’s yuan is waiting in the wings…
Other themes include the recent rush back into U.S. treasuries, and shifting demographics.