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Closing Bell

Closing Bell: Gundlach’s First Take on the Fed 3/27/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 27 March 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

DoubleLine’s Jeffrey Gundlach gives his first, exclusive interview since the Fed’s decision to raise interest rates. He gives his take on the Fed’s next move, the odds of a recession and the turmoil in the banks. Plus, Sofi’s Liz Young weighs in on Gundlach’s recession prediction. And, market expert Mike Santoli breaks down what he’s watching as we kick off a fresh trading week.

Transcript

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0:00.0

Welcome to the closing bell. I'm Scott Wopner live post nine here at the New York Stock Exchange

0:04.3

this make-a-break hour begins with stocks and bonds telling two different stories lately.

0:09.4

Yields though up today have been falling as more recession sirens blair equities on the

0:15.2

other hand showing some level of resiliency even as concerns about the

0:18.8

economy mount here's your scorecard with 60 minutes to go in regulation. You're looking at it.

0:23.4

We're green across the board now. In fact, the NASDAQ, which was a touch negative,

0:27.9

looks positive now. Stocks have been mostly higher throughout the day.

0:31.1

Nasdaq will call it for all intents purposes flat.

0:33.8

S&P's been fighting with that 4,000 level

0:36.5

for much of the afternoon.

0:37.7

It's just shy of that now.

0:40.0

Talk to you about the Nasdaq giving back

0:41.6

a little bit of its recent gains.

0:43.2

Yields are higher too, but that closely watched yield curve growing steeper.

0:46.8

Yet another warning sign for where growth may be heading in this economy in the months ahead.

0:51.7

And that leads us to our talk of the tape and our lead

0:54.0

guest double lines Jeffrey Gunlock in a closing bell exclusive he is with us

0:57.8

for his first live TV interview following the Fed's decision on interest rates

1:02.2

raising them of course by a quarter point.

1:04.0

Welcome back. It's good to see again.

1:06.0

Hey Scott, nice to be with you again.

1:08.0

Yet we talked just before where you said probably go 25 and that would be it you got your 25 you think that's it.

...

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