Jeff restructured his Treasury holdings over 2 years ago (around 2023) to protect clients by shifting from high-coupon (4.75%) to low-coupon (1.5%) 10-year Treasuries, anticipating a potential future restructuring of bonds where coupons are reduced.
factualpending
Speaker
Jeff GundlachEvidence Quote
“I said maybe they'll just say all all bonds longer than 5 years or something like this we're we're going to say what we're going to change the coupon to 1% or whatever the coupon is now, whichever's the lower. And I kept it to myself, but I actually restructured treasury holdings in some of my funds based on this concept moving to the lowest coupon securities possible. So I I took in in my largest fund the coupon on the treasuries 10 years and longer from 4 and 3/4 down to 1 and 1/2.”
Created: 8/12/2026, 6:25:56 PM
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