Jeff Gundlach says Fed won't cut rates, markets overpriced

Bond king Jeffrey Gundlach, CEO of Los Angeles-based money manager DoubleLine Capital, said the bond market is getting increasingly "grabby" and stocks are overvalued. Gundlach said that since the Federal Reserve stopped raising rates and pivoted to a dovish stance last fall, "Everything went up. Blue chips started rallying ... and became overvalued.