["The 'New Bond King' Warns: The Next U.S. Recession Could Trigger a Fiscal Crisis"] According to a report by Jinse Finance, on September 18, DoubleLine Capital CEO Jeffrey Gundlach warned that the next U.S. economic recession could trigger a debt crisis, driving long-term Treasury yields sharply higher—upending the decades-long conventional view that bonds are always safe-haven assets during economic turmoil. Gundlach stated that he is focusing on low-duration assets to shield DoubleLine Capital's funds from the impact of further interest rate hikes. He also believes that the U.S. government may increase policy interventions to curb bond sell-offs. He outlined several possibilities, including the Federal Reserve reenacting "Operation Twist" or even engaging in debt restructuring—such as reducing coupon payments on outstanding bonds to lower interest expenses. "If a recession occurs, fiscal conditions will come under intense scrutiny," he said at an event in New York. "The budget deficit will easily reach 12% of GDP, generating about $3 trillion in annual interest expenses, which is unsustainable."