Jeffrey Gundlach says cracks forming in America's multitrillion-dollar private credit market

Jeffrey Gundlach, known as the "Bond King," warns that America's private credit market is showing troubling signs similar to pre-2008 financial crisis conditions. He describes it as the "Wild West" of finance, highlighting issues like lack of transparency and liquidity. Gundlach's comments coincide with Blue Owl Capital's decision to scrap a merger due to market volatility. He cautions that illiquidity could lead to a crisis, drawing parallels to the 2008 financial crisis.