the yields are moving under our feet, dan greenhouse. let me read you the headline, treasury yields extend thing their fall after that swiss official -- the story we just brought you concern said that there is no support there. but the swiss national bank, another one, another member of parliament is telling reuters i wouldn't be surprised if the swiss national bank makes an announcement on credit suisse by monday morning? that's days from now. so between now and then, u.s. stocks -- s&p's a lot cheaper right now. do you go into just a basic index fund? >> yeah. i don't know what's going to happen in the next three days, and i don't think anybody because. what i would say is, i guess, many contrast to what naeem said earlier, this bank's not going to fail without support. this has been a slow motion locomotive for the better part of a year or two or even more. st it's not as if everybody's not aware of problems in many european banks. obviously, we're talking about credit suisse right now. the idea that credit swiss would be allowed to,

dan greenhouse, give me your thoughts on this reaction.mixed market, hinges have turned -- things have turned decidedly negative. signature bank, the feds are also back stopping the deposits on both banks. >> yeah. listen, bank runs are about confidence, and fundamentals don't matter. and right now confidence is low. and so anything the administration can do, anything regulators can do to kind of remind people that your local regional bank is very unlikely to fail if everybody doesn't run and go take out their money is a positive. whether they do that or not remains to be seen because, obviously, based on the markets' reaction right now, they are not pleased. but the ball is in the regulators' court in the that sense to remind everybody there isn't a major systemic issue unless, dare i say, you make it one. maria: yeah. liz, parking lot of this was bad policy. the federal reserve and higher interest rates after 15 years of zero rates. but there's also issues here unique to silicon valley bank. >> yeah, for sure. i mean, look, an awful lot

dan greenhouse, thank you very much steph, you'll come back. our twitter question of the day, are you worried about stocks retesting october lows vote yes or no we've got the results coming up in a little bit later on. >>> we're just getting started here on "closing bell. up next, betting big on china. stephanie link making a fresh trade. she teased it a few moments ago. the name she is buying more of why she is seeing serious upside overseas >>> later, your rising rates tech book. breaking down how to best trade the move higher in bond yields we are live from the u.s. stock exchange the you are watching "closing bell" on cnbc. >> announcer: this cnbc program is sponsored by truist wealth where we focus on person-to-person connections where you can focus on what matters most connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5

dan greenhouse is chief investment strategist at solis alternative alternate management this is one of those fridays, a crisis period, the fog of war, you can't disprove the idea that there are other shoes to drop in the banking system but you don't know for certain that that's going to happen. what's your read on the week's action in the context of what has had to occur with the banks. >> i don't know that you can read too much into it. there's a lot of conversations about cyclicals outperforms and how gold is doing and i think to your comment about this thing in the midst of the fog of war, i think it is really hard to make any consequential decisions right now, since, to your point, we don't know when the next shoe will drop. if the next shoe will drop and i would be hesitant to read too much into just about everything right now. >> the broad outlines of the way the markets are behaving is, it seems as if again, where we're bracing for the recession playbook to kick in, in a sense. oil cracking even though you said don't read too much into what the market is saying 2-year note plung

for more on what lies ahead, dan greenhouse of solis,xd victoriad green, a cnbcçó contributor. fed?u■ since we left it with timeros there, more peoplee1 seem too. >> to nick's point aboutlp how long people have been calling for rate cuts is apropos of the situation now in the sense that it's been probably about a year that people have constantly called for rate cuts, and truthfully when you look back 25 years, the street is notoriously bad at forecasting where the fed fund's rate is going to be. every time it's going up, each successive rate hike is the lasq one, each successive rate cut is the last one.cm cf1 o my gut is inflation is pretty high. the issuese1 with the banking sector right nowq are largelye1 idiosyncratic. i don't think there's a systemic issue, in the sense thatw3 peop are using the word systemic. theko■ imminent is too much. >> the equity market, stocks were up lastq week? k strong run. credit spreadsçó have widened o a little bit. you have tremendous moves in the futures markets in terms of rate hikes and cuts. with respect to the nasdaq, which is where?7 ev

goes to positions in their own bank manufacture joining me all morning long is chief strategist dan greenhouse, columnist and fox news contributor, liz peek. great to see you this morning. thank you for being here. liz, yesterday we were speculating on whether or not the fed would come up with a bid to acquire this company. that did not happen. and now we're seeing these emergency be measures taken. do you think there is disappointment that they were not able to secure a buyer for silicon valley bank in. >> maria, i think there would have been people stepping up to provide private capital in this situation. i think this whole mess absolutely did not have to happen. part of the problem is that goldman sachs went to the public markets with a company, looking for -- looking to sell new shares and raise equity capital at a bad time. it alerted everybody that they had a liquidity problem. the problem is, the last time you had a lot of banks purchase other banks, back in 2009-10 of, some of those banks got hit with gigantic fines for problems that existed in the underlying organization, right, like

join he me now is dan greenhouse and liz peek. we'll talk to brad wenstrup in the a little while, leading the subcommittee on getting to the origins of covid-19. he learned they rushed the vaccine through with emergency headline so no one would be able to use any other drugs to treat covid-19, otherwise they would have not have gotten the emergency for moderna and pfizer. your reaction to fauci? >> my reaction to fauci is not to be critical of him for not getting everything right, but to be very critical of him for lying to the american people and i think that's what elon musk was talking about. his whole shutting down of the lab leak theory came about by basically commissioning a paper to be written and then using that paper as proof that he was right that it was a naturally occurring virus, maria. the whole thing is so dishonest. i think as a result, people are looking into more and more what fauci was up to, what were his ties, what were his funding. we know he funded gain of function research through the nih and then lied abou

rates, gregory farinello, ryan payne, and dan greenhouse. great to see everybody this morning. thank you for being here. ryan, kicking things off with you, let's get your reaction to the kohl's number. this is an obvious massive selloff they we're seeing, lowe's out earlier, whether would you say is your take-away on retail. >> i think this is a kohl's issue. if you look at retail in general, it's held up pretty well here. big box retailers haven't come in with horrible numbers. all we care about is better than feared. kohl's stock peaked in 2019. sales are down this year already. they've had the wrong mix of consumer goods for a long time. this is more of a kohl's issue than a macro issue. maria: what about the overall tone of retail. look at at home depot getting smashed because of the pressure of wages and inflation at the company. >> they're in the do it yourself market. maria: housing has been in recession. >>s housing in recession. they're not immune to that. walmart who sells groceryings as well and you'll have lowe's today and those numbers will probably be decent. it's