DoubleLine CEO: If Anthropic gets investment grade, investigate the agency | Invest 2026
DoubleLine chief executive and chief investment officer Jeffrey Gundlach tells Brian Sozzi he would not touch Anthropic’s debt, and that if Anthropic is granted an investment grade rating, the agency that granted it should be investigated. He argues ratings are being manufactured so that insurance companies owned by private credit firms can buy debt they should not hold, points at Oracle’s triple B minus rating trading like a single B credit, and says the whole arrangement is reminiscent of 2006. He was in structured finance in 2006. Ratings characterisations, market views and figures here are his own.
Featuring:
Jeffrey Gundlach, Chief Executive Officer and Chief Investment Officer, DoubleLine Capital
Brian Sozzi, Executive Editor, Yahoo Finance
Watch the full day of Yahoo Finance Invest: https://youtube.com/live/rAYVxDJYeAc
Timestamps
0:00 What changed in the markets six or seven weeks ago
2:10 SpaceX, Oracle, and ratings he calls bogus
4:05 How a manufactured rating ends up inside an insurance company
6:20 The national debt, and an 8%-of-GDP run rate
7:45 The blast radius, and why he will not own a cap-weighted index
10:10 The barbell in bonds, and the Sherman ratio
13:06 How far tech has to fall, and the price he is waiting for
18:06 Where the 10-year goes, and the option to suppress yields
22:14 “Would you own debt in Anthropic?”
25:30 The 2006 dinner, and what the underwriter told him
29:00 What happens to a frontier town when they find gold
31:20 What private credit has actually paid out
#Anthropic #PrivateCredit #Bonds #YahooFinance
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