Felix is turning very bearish on the dollar for next year (2026-2027) on a secular basis, but not this year (2025), because capital flow dynamics and SWF behavior have shifted structurally.

forecastpending

Speaker

Felix Zulauf

Evidence Quote

I'm also turning very bearish on the dollar for next year. Not not this year. I think we have some time left, but next year and on a secular basis.

Source

Jeffrey Gundlach and Felix Zulauf: The Second Inning of a Major ShiftDoubleLine Capital
Created: 8/12/2026, 6:25:56 PM

My Notes

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