Is US government debt restructuring not just alarmist talk? Gundlach: The next recession will trigger a US debt crisis.

Jeffrey Gundlach, CEO of DoubleLine Capital, known in the industry as the "New Bond King," warned on Thursday that the next U.S. recession could trigger a debt crisis and cause long-term U.S. Treasury yields to surge sharply upending the decades-old conventional wisdom that "U.S. Treasuries are always a safe haven during times of economic turmoil."