DoubleLine’s Gundlach Says ‘Reckoning Is Coming’ for US Debt

America’s debt burden and interest expense have become “untenable,” a situation that may lead investors to move out of dollar-based assets, according to DoubleLine Capital’s Jeffrey Gundlach.

“There’s an awareness now that the long-term Treasury bond is not a legitimate flight-to-quality asset,” the veteran bond manager said Wednesday in an interview at the Bloomberg Global Credit Forum in Los Angeles. A “reckoning is coming.”