When Jeffrey Gundlach speaks, the investment world listens. Known as the “Bond King,” Gundlach blends technical mastery with blunt, data-driven realism—offering clarity in markets that often feel chaotic. In his latest appearance on Webcast with Dave on October 10th, 2025, hosted by Rosenberg Research’s David Rosenberg, Gundlach shared an unfiltered view of the global macroeconomic outlook, the Fed’s next moves, and where real opportunities lie for investors. The conversation went beyond mere forecasts, providing a framework for strategic thinking.
The Market’s Unmistakable Signal: Reading the 2-Year Yield
Gundlach’s genius lies in his ability to prioritize the “bloodless verdict” of market signals over lagging economic data. He watches the 2-year Treasury yield, which he insists is the most reliable signal of future Fed policy. He reminded viewers that this short-term yield has led every major shift in interest rate direction for the past 20 years, a vital lesson in reading the market before the headlines do. His central tenet? “The Fed doesn’t need data—it has the markets.” This ability to translate price action into foresight is crucial for anticipating monetary policy shifts and preparing your fixed income portfolio.
A Highly Convicted View: Where the Bond King is Positioned
Gundlach’s commentary is always accompanied by a clear, high-conviction investment stance. He detailed his strategic positioning, providing critical insights for actionable investment market analysis:
- Highest Conviction Trade: He confirmed his highest conviction idea remains local-currency emerging market bonds. He favours this due to attractive yields and better budget fundamentals, benefiting from his weak-dollar view.
- The Yield Curve Play: Gundlach is positioned for a steepening yield curve by actively avoiding the long bond and adding to his overall Treasury note position in the shorter and mid-term durations.
- The Big Warning: He issued a strong warning that private credit could be the next major financial crisis candidate. He dismissed the sector’s hype, comparing it to illiquid, mispriced, pre-2008 structured products.
- Fixed Income Beyond the Basics: Gundlach highlighted that he’s positioned in no fewer than five excellent ideas in the fixed-income market beyond the local currency EM bond trade. The full Jeffrey Gundlach webcast replay details these specific sectors, providing tactical guidance for fixed-income investors.
- Gold and Equities: Reflecting his view of a weak dollar and persistent inflation, Gundlach stated that his personal portfolio holds a substantial allocation to gold. He also expressed a strong preference for non-U.S. equities over U.S. stocks, including emerging market and European stocks, due to better valuations and capital flow reversals.
The Value of the Full Strategic Briefing
The Jeffrey Gundlach webcast offers strategic value that goes well beyond these items mentioned above. Gundlach argued that traditional economic signals are now failing, indicating the world has entered a new financial regime where old rules no longer apply. The full, exclusive conversation with David Rosenberg provides the unique context and strategic foresight to understand this regime change. That includes:
Five Detailed Fixed-Income Plays
Gain access to the precise details of the five excellent ideas in the fixed-income market that Gundlach is positioned in, offering tactical guidance for fixed-income investors.
The Full Logic Behind the Warning
Hear the unedited, deep-dive analysis and the choice words Gundlach had for private credit, allowing you to fully assess the risk he warns could spark the next financial shock.
In-Depth Economic Dissection
Access Gundlach’s full breakdown of the U.S. labour market revisions and his explanation for why key recession indicators are flashing warnings without yet signalling monumental economic problems.
Unbiased Strategic Rationale
The complete discussion provided key tactical insights into how the U.S. deficit and the reversal of foreign capital flows are driving structural risk, necessitating a different approach to portfolio strategy.
Access Jeffrey Gundlach’s Full Global Macroeconomic Outlook
The complete Jeffrey Gundlach webcast is more than a recap of market views; it’s a masterclass in strategic positioning from one of the world’s most influential investors. The full, exclusive replay and transcript, detailing all five fixed-income ideas and the rationale behind his conviction, are available exclusively to our subscribers. Positioning yourself ahead of structural change requires this level of depth and expertise.
The only way to access the unparalleled intelligence and gain access to the full Rosenberg Research webcast archive is by becoming a Rosenberg Research subscriber. Browse our subscription options to get started.
