Jeffrey Gundlach

Coreweave has to pay personal loan rates to borrow money.

“Trump Says Inflation Will Pay Off the $40 Trillion Debt Very Rapidly.”

So you want to “tax the rich”, do ya? The LA “Mansion Tax” in its first 3 years has resulted in: * a revenue DECREASE of $452 million * 9100 new home constructions blocked (1000 of which were “affordable housing”) * 16,650 full time construction jobs lost

Paramount floated the largest high yield bond offering in history this week, and the bonds sold off immediately in trading afterwards. This is not a sign of a strong market.

French President Macron’s approval rating is now at 18%, the lowest in French recorded history.

Those betting against “the house” keep winning.

Hey Bills management: can you please eliminate today’s “alturnover” uniforms forever? Exactly nobody likes them. And did I hear right that there wasn’t even a Buffalo on them?

The chart of the 30 Year UST yield over the past 25 years is must viewing.

The Fed dual mandate is shifting. Used to be “low inflation and full employment”. The latter is now taken as a given in Fed comments. Dual mandate will shift to “low inflation and interest expense management”, though the two of them will always be in tension.

The 30 Year UST yield touched 5.50% today.

The Fed did the micro hike one week ago and UST long rates fell….at first. Now they are at the high of the year and very nearly the high of the past two decades.

The 30 year UST yield is right back to where it was just before the micro hike on Wednesday.

The 2 year UST yield is now 15 bp above where it was just before the micro hike on Wednesday.

Godspeed Rick Santelli. Congratulations on a great career.

I doubt the Bills would have won today if McDermott was still the coach.

Bessent: “I am the house now. Bet against the house if you want.” They’re betting against the house.

UST yields at new highs for the year all across the curve. Including the 30 year.

The 2, 5 and 10 year UST yields have reached YTD highs. The 30 year UST yield has not.

Say the Feds succeed at thwarting a potentially deadly terrorist plot. I doubt a defense of “no one has been harmed, and no one claims to have been harmed” would even be attempted.

Fascinating that Kevin Warsh opened his Jackson Hole remarks talking about “hikes”.

Major private equity/credit firm obfuscated its affiliated transactions and leaned heavily on suspicious ratings issued by a single rating agency. That agency rated 3200 deals in a year with a staff of 25 analysts. Deal documents are hundreds of pages.

My father was born this day in 1925 in Ebenezer New York. I miss you Dad. Go Bills.

The U.S. National debt officially surpassed $40 Trillion yesterday. Today the Treasury department announced a doubling of periodic purchases of long term U.S. Treasury bonds.

It is said noone “rings a bell” at risk market tops, but there are declarations of “new asset classes involving ‘financial innovation’ abetted by questionable ratings” to watch out for.

Now looking like the U.S. National Debt will surpass $40 Trillion by Labor Day.

Reported total returns since April 4, 2012 (Inception date of TCPC): Cumulative Annualized TCPC. 4.01%. 0.28% Bloomberg Agg Index. 31.39%. 1.92% High Yield Index. 121.16%. 5.69% 90-day T-Bills. 26.96%. 1.68%

Lennon’s Revolution You say you’ll change the Constitution Well you know We’d all love to change your head You tell me it’s the institution Well you know You better free your mind instead Cause if you go carrying pictures of Chairman Mao You ain’t gonna make it with anyone anyhow

The 5th amendment is about not compelling self-incriminating testimony. Invoking the 5th in response to “what color is your tie” has nothing to do with self-incrimination. It is simply arrogant contempt.

The most troubling thing about the Fauci diaries is his almost cheerleading the rising death count because the rising death count correlated to his growing media celebrity, as he reported in detail.

The greatest financial media moment year to date was Michael McKee teeing up and then delivering “what are you waiting for” to Warsh.