GO
Loading...

Breaking News: Jeffrey Gundlach to CNBC's Scott Wapner: Liquidation Cycle Appears to Have Run Its Course

Thursday, 27 Jun 2013 | 11:55 AM ET

WHEN: TODAY, THURSDAY, JUNE 27TH

WHERE: CNBC'S "SQUAWK ON THE STREET"

Below is the unofficial transcript of breaking news from CNBC's Scott Wapner. All reference must be sourced to CNBC.

SCOTT WAPNER: ON A DAY WHEN THERE IS AN AWFUL LOT OF FED SPEAK AND THE FOCUS REMAINS SQUARELY ON INTEREST RATES, SOME COMMENTS FROM JEFFREY GUNDLACH TO ME JUST A SHORT TIME AGO THAT I WANTED TO SHARE WITH ALL OF YOU. HE, OF COURSE, THE CEO AS YOU LOOK THERE OF DOUBLELINE CAPITAL – 60 BILLION DOLLARS UNDER MANAGEMENT. MR. GUNDLACH TELLING ME – I'M GOING TO READ YOU THE DIRECT STATEMENTS HERE. "THE LIQUIDATION CYCLE APPEARS TO HAVE RUN ITS COURSE WITH EMERGING MARKET BONDS, US JUNK BONDS, MUNIS AND MBS ---ALL OF WHICH SUBSTANTIALLY UNDERPERFORMED TREASURIES DURING THE RATE RISE--- NOW RECOVERING SHARPLY," IN HIS WORDS. "THE 200 BASIS POINT YIELD RISE ON CERTAIN SECTORS BROUGHT ABSOLUTE YIELDS UP TO LEVELS HIGH ENOUGH TO CREATE A COMPELLING VALUE PROPOSITION. NOT SURPRISINGLY, INVESTORS HAVE BEEN DRAWN TO THESE VALUES LEADING TO INTEREST RATE STABILIZATION." AND FINALLY HIS LAST COMMENT WILL CERTAINLY BE FOCUSED ON – "JULY WILL NOT BE A REPEAT OF MAY/JUNE IN THE INTEREST RATE MARKET." THAT ACCORDING TO THE CEO OF DOUBLELINE JEFFREY GUNDLACH.

About CNBC:

With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 390 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 8:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide.

CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.

Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site athttp://www.nbcumv.com/mediavillage/networks/cnbc/