...after the tariff fiasco, Jeff Gundlach is firing a warning shot to Bessent not to pursue an audacious adversarial debt restructuring plan (as intimated by Stephen Miran).
...the tariff debacle may be the strongest feedback yet to Trump 2.0 that audacity at others' expense can backfire big time.
...some would say at least he tried with some success, but small success pales in comparison to what is difficult to measure- trust and credibility which is crucially important for a nation that depends on debt re-financing to stay afloat.
Gundlach on "adversarial debt restructuring" Same judgement as we had that is the similar case as 1930s Italy which did recut the foreign holders while spending more. Market closed for 10 years, could not issue externally. https://x.com/GraphCall/status/1922043063037268358
