the executive vice president market strategist at pimco joins me now from newport beach california. welcome back. did we get any sense on when these rates may be raised? tony: the fed is making it clear again that it will be up to future data. it did tell us a little bit about how high the bar is and what it wants to see. one of these things is some stability in oil and dollar, two things that have concerned the fed of late. there is some of that and the fed will need more time. there is some language that suggests and will deadly today said there could be a hike in june. several have suggested that a favored a hike in june. numerically, four or five of the 17 or so participants in the meeting, so it's not quite enough to get over the bar set by the leadership. it is very data dependent in terms of when the dead will move. -- the fed will move will stop mark: our markets and investors too worried about when the fed will raise rates? tony: pimco would like to suggest you not get too concerned about the analysis and get caught up in timing the markets. that's always a dangerous thing.

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newport beach california, and alix, i will send it alix: thank you, erik, for that interview with billlie, the stock is down sharply after hours. julie: you can see that on my bloomberg terminal behind me the drop in the after-hours. this stand around 13%. what is behind it. they came out with an unexpected loss, at least unexpected by analysts. analysts had been predicting a gain, and earnings per share so that is part of the problem. and it is below what they had been anticipating. alix: thank you, julie. lots more coming up on "street smart," and we will get more reaction to bill gross's interview on the other side of this break, and former new york giant tiki barber will join me with how players can prepare a financial playbook. ♪ alix:'bill gross's comments and we have some guests, including atul lele lisa abramowics, and carl riccadonna. is this reflected in the gdp forecast we have now? carl: i think we cannot cast judgment about whether we had entered the new paradigm until the economy has normalized. the unemployment rate has not crossed back to its neutral level, so we are st

southern california increasingly is becoming the king of bonds. think about this. a newport beachs. he's right next to his old firm at pimco. and downtown l.a. double lines jeff running more than $60 million. he's increasingly moving the partner. scott helping run more than $200 billion. don't forget about tcw. they've got more than $130 billion in fixed income and all operate right out of here. yeah i know. you can forget about all the power and money in new york city. it's still the capital of stocks and hot dogs. when it comes to the bond market all the mojo is increasingly right here in southern california. >> don't forget blackrock, the biggest asset manager in the world is run by larry fink who is a ucla alum. that is the reason why we will be here again tomorrow. fed decision 2:00 p.m. eastern time. 11:00 pacific. we are going to be live here in los angeles at our bureau with a great round-table. big-time guests who talk about when the fed is finally doing to raise rates. hey, we don't expect it but you never know. it could be tomorrow. another reason why southern californi