Program and guest
CNBC Television’s “Closing Bell” interview with DoubleLine CEO Jeffrey Gundlach. Original English title: Jeffrey Gundlach: Fed should be raising rates based on the two-year and yield curve steepening. Subtitles cover the entire video (3:44); this article covers the full interview.
Key points
(The following paraphrases the guest’s intended meaning; timestamp links lead to the corresponding points in the original video.)
- Gundlach said it was a “somewhat vague” press conference: There was much talk of “looking out the window” and “looking at reality,” but his main takeaway was that the very idea of “gathering more information” warranted caution. 1:16
- The data showed a real GDP nowcast of about 3.4% for the third quarter; adding inflation of about 3% put nominal GDP at about 6%. Commodity prices were well above their 200-day moving average and trending upward. 2:58
- During the press conference, the yield curve had already steepened; judging by the signal from two-year Treasuries, the Fed should have raised rates. 3:40
Background and notes
Subtitles cover the entire video (3:44); this article covers the full interview. The views and timestamps are paraphrased and referenced from the original subtitles; each timestamp marks the start of the corresponding subtitle segment. This short interview is covered in as many points as it warrants, without padding.