Weighing a Risk-Off Atmosphere 9/22/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 22 September 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Former Dallas Fed President Richard Fisher said we are likely to stay in a risk-off environment. Cantor’s Eric Johnston joins us with his own crash call for stocks. Plus, Hightower’s Stephanie Link is breaking down some recent buys. She explains where she is seeing opportunity in this market. And David Albrycht of Newfleet Asset Management discusses how to play the boom in bonds. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	All right, Mike, thank you very much and welcome everybody to overtime.
0:04.1	I'm Scott Wobbany, you just heard the bells.
0:06.2	We are just getting started here from Post 9 at the New York Stock Exchange, and we have a very
0:10.6	busy hour ahead.
0:11.8	Costco earnings, they are imminent.
0:13.0	We're going to get you the numbers and the stock move
0:15.3	and everything else as always that you need to know right now.
0:18.8	We begin though with our talk of the tape.
0:20.9	A risk-off atmosphere, that is what former Dallas Fed President Richard
0:24.2	Fisher told me we are in now and it's likely to stay that way. Our first guest
0:29.3	he agrees he just doubled down on his crash call for stocks.
0:33.0	Let's bring in Kenner's Eric Johnston.
0:35.0	He's with me once again and that's really what it is.
0:38.0	It's a call that stocks are going to crash from here that they have a lot more downside, right?
0:42.0	They do have a lot more downside. I think you know our
0:46.2	conviction at this level is as high as it was when we were a thousand points
0:50.3	higher when we were bearish at the beginning of the year, bearish at 4300 and now at
0:55.0	3780.
0:56.5	And the reason why, even though price level is down and our conviction is super high right now,
1:01.7	is based on what's going on a number of
1:03.6	scenarios including the rates market so I think yesterday was very
1:06.7	important uh... howl backed up his his jackson hole comments
	...

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