Shows
DoubleLine MinutesMarkets Price for Higher Term Premia (E216)DoubleLine Portfolio Manager Eric Dhall and Analyst Mark Kimbrough survey a rough week for stocks and bonds ended May 23, 2025. Those losses followed the May 16 announcement of Moody’s downgrade of the U.S. to Aa1 from Aaa on the rating agency’s outlook for the federal deficit to rise to nearly 9% of GDP by 2035 from 6.4% in 2024. Eric and Mark begin with a dive into fixed income markets (0:30), which saw Treasury yields rise on the long end of the curve. The yield on the long bond Wednesday through Friday closed above previous resistance of 5.00%. “With these concerning fiscal deficits, investors seem t...2025-05-2322 minDoubleLine MinutesEquities Dip on Short Week Amid Mood Shift and Tightened Egg Rationing (E203)DoubleLine Portfolio Manager Eric Dhall and Analyst Mark Kimbrough recap a Presidents’ Day-shortened market week that included a tick down for equities (00:46), positivity in fixed income (3:32) and rising commodities buoyed by gold (4:52). Over in Macro Land (6:15), they look at the FOMC meeting minutes, which include Fed officials talking about pausing QT and assessing inflation amid policy uncertainty, and the least negative LEI reading since September 2022 (7:58). The composite S&P Global U.S. manufacturing and services PMI releases (9:25) provide food for thought, including chief business economist commentary that “The upbeat mood seen among U.S. businesses at the start of the...2025-02-2120 minDoubleLine MinutesMarkets Take the Winding Road to Green (E202)DoubleLine Portfolio Manager Jeff Mayberry and Fixed Income Asset Allocation Strategist Ryan Kimmel survey stock (0:38), bond (1:54) and commodity (3:53) markets for Feb. 10-14, a week that ended in the green across all three asset classes but was punctuated by a whipsaw in bonds around inflation headlines. Their review of the week’s macro news (4:25) focused on the hotter-than-expected January CPI report, although Ryan Kimmel noted that 14 of the last 15 January CPI readings exceeded consensus forecasts.
2025-02-1420 minDoubleLine MinutesMorning for Mourning Manufacturers? (E201)DoubleLine Portfolio Manager Jeff Mayberry and Analyst Mark Kimbrough review a flattish stock market (0:40), a decline in bond yields (1:56) and stronger commodities (3:41) for the week ended Feb. 7. Then they turn to the week’s macro news (4:40), which was dominated by a raft of labor market reports as well as an expansionary print on the long-languishing ISM manufacturing survey. “We’ll temporarily ring a bell and say a 26-month streak of prints below 50 came to an end in January,” Mark says. “I hope that doesn’t get revised away next month.” In contrast to the week’s jobs-heavy news, the week of Feb. 10...2025-02-0725 minDoubleLine MinutesFed Flusters Markets, DeepSeek Daunts Tech (E200)DoubleLine Portfolio Manager Eric Dhall and Fixed Income Asset Allocation Strategist Ryan Kimmel dissect the week of Jan. 27-31, 2025. The week saw the S&P 500 (0:33) suffer a tech selloff, bond prices (4:30) tick higher and commodities (5:26) lower with precious metals moving higher. The week’s macro news (6:30) was dominated by the Federal Reserve, whose hawkish-seeming policy guidance, followed by softer language during Fed Chair Powell’s news conference, whipsawed markets. Macro prints (9:31) on durable goods, GDP and jobless class were nonevents, but softish readings Friday on the Personal Consumption Expenditures index and the Employment Cost Index, Eric and Ryan noted, give...2025-01-3121 minDoubleLine MinutesTrump 2.0 Headlines a Short Market Week (E199)DoubleLine Portfolio Managers Jeffrey Mayberry and Eric Dhall review the market week of Jan. 21-24, shortened by the Martin Luther King Jr. Day holiday and overshadowed by the launch of Trump 2.0. Fixed income and the S&P 500 saw mostly green, although energy stocks were impacted after comments by President Trump on oil prices. Commodities were down on the week, led by a declining energy sector. Over in Macro Land (4:36), President Trump’s swearing in and flurry of executive orders kicked off the week, with the U.S. dollar dinged by the absence of Day One tariffs. The otherwise light ma...2025-01-2615 minDoubleLine MinutesGreen Market Week and Blossoming Optimism (E198)DoubleLine Portfolio Manager Jeffrey Mayberry and Analyst Mark Kimbrough tackle a positive run for the markets the week of Jan. 13-17 heading into a busy weekend of NFL playoffs and Monday’s Inauguration Day. They kick things off with a look at equities (00:56), with all 11 sectors of the S&P 500 Index up on the week, then break down positive runs for fixed income (2:50) and commodities (4:31), supported by a big move by WTI crude. Rosy sentiments bloomed in Macro Land (5:46), including an optimistic small-business survey and a series of inflation prints that could be read as positive. Next week (18:32) will br...2025-01-1722 minDoubleLine MinutesGreen 2024 Survives December’s Red Market Run (E196)DoubleLine Portfolio Managers Jeffrey Mayberry and Eric Dhall kick off the new year with a rundown of 2024’s and December’s performance while also recapping the holiday week of Dec. 30-Jan. 3, naming the winners and losers (or laggards) in stocks, fixed income (3:30) and commodities (7:04). Over in Macro Land (10:18), Jeff and Eric catch up on recent news, including prints for homes prices and jobless claims as well as cap goods and ISM manufacturing numbers that raise speculation that some businesses might be stocking up in preparation for possible Trump tariffs. Next week (14:49) will bring a heavy dose of macro, including JOLT...2025-01-0320 minDoubleLine MinutesA Red Week Nearing End of a Green 2024 (E195)In their last Minutes podcast for 2024, DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau review year-to-date and Dec. 16-20 returns for stocks (0:36), fixed income (3:16) and commodities (6:17) before taking up the week’s macro news (7:10). For the Topic of the Week (12:22), Jeff and Sam unpack the Dec. 18 meeting of the Federal Open Market Committee, Fed Chairman Jerome Powell’s news conference and the immediate impacts on financial markets and longer-term monetary expectations.
2024-12-2029 minDoubleLine MinutesA Friday-the-13th Week for Stocks and Bonds (E194)DoubleLine Portfolio Manager Eric Dhall and Analyst Mark Kimbrough survey a Friday-the-Thirteenth week for stocks (:033) and bonds (1:56) with commodities managing to end the week ended Dec. 13, 2024, in positive territory despite a rally in the dollar. For the week’s macro news (5:48), Mark Kimbrough notes an improvement in small business sentiment on hopes of lower taxes, easing regulation and inflation relief. He also discusses in-line consumer price index and stronger-than-expected producer price index readings for November. For their Topic of the Week (16:00), Eric Dhall discusses DoubleLine’s inflation model, which forecasts inflation in the 2% zone in 2025, provided energy prices remain tame...2024-12-1325 minDoubleLine MinutesSoft Landing on the Horizon? (E193)After reviewing stocks (0:48), bond (2:43) and commodities (4:26), plus bitcoin (5:17) topping $100,000, DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau unpack the past two weeks’ macro news (6:10). ISM manufacturing, payroll and jobs data suggestive, Jeff says, suggest that “maybe the Fed is going to be able to do the soft landing.” Turning to federal funds rate probabilities (12:27), future contracts are pricing in 3½ cuts through the end of 2025, inferring Sam notes more restrained policy than suggested to date in Fed guidance. Looking ahead to the Dec. 9-13 market week, topping their watch list will be the November CPI report, due Wednesday – the last CPI print...2024-12-0618 minDoubleLine MinutesA “Benign” Green Scene for Markets Heading Into Thanksgiving Week (E192)DoubleLine Portfolio Manager Samuel Lau and Analyst Mark Kimbrough review a positive run in the markets for the week of Nov. 18-22. The S&P Index (00:33) inched up, supporting likely healthy returns for the month and year; fixed income (2:09) was also positive, with all components of the Agg rising; and the broad commodities market (3:54) was up, with gold marking a strong week. A light week in Macro Land (5:04) included a mixed picture for initial and continuing jobless claims, a “warning” signal framing for the Conference Board’s LEI and some post-election U.S. PMI numbers. It was also a light...2024-11-2216 minDoubleLine MinutesTrump Trades, Powell Patience and Truss, Too (E191)DoubleLine Portfolio Manager Jeff Mayberry and Analyst Mark Kimbrough survey the Nov. 11-15 week for stocks (0:57), with the Trump-buoyed energy and financial sectors alone of the 11 S&P 500 sectors to post gains; fixed income (2:40) mostly lower on amid rising rates; and commodities lower (4:20), with energy prices perhaps reflecting the “drill, baby, drill” mindset of the president-elect. For the week’s macro news (6:05), Mark Kimbrough dives into an in-line CPI report for the month of October, a hotter-than-expected PPI report and, in his opinion, some “quite entertaining” retail sales revisions. Jeff Mayberry notes that remarks by Jerome Powell (18:55) showing the Fed chairm...2024-11-1528 minDoubleLine MinutesStocks, Bonds, Commodities, Trump and Powell (E190)In their review of the Nov. 4-8 market week, DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau cover election-turbocharged stocks (0:48), volatile bonds (4:01) and modest gains in commodities (6:11). After a review of the week’s macro news (8:08), including a resilient services sector, Jeff and Sam dive into Thursday’s Federal Open Market Committee meeting (10:14) and Fed Chair Jerome Powell’s news conference. Looking ahead to the Nov. 11-15 week (20:11), they will be on watch for the October prints of the Consumer Price Index (Wednesday) and Producer Price Index (Thursday) as well as jobless claims (Thursday).
2024-11-0825 minDoubleLine MinutesStocks, Bonds and Commodities Paint the Week Red (E189)DoubleLine Portfolio Manager Samuel Lau and Analyst Mark Kimbrough review the Oct. 28-Nov. 1 week of losses in stocks (1:45), led lower by tech and real estate; higher interest rates (4:03); and lower commodity prices (5:46), with energy getting pummeled. Their review of the week’s macro news (7:18) includes still strong housing prices, a strong GDP report for the third quarter and weaker-than-expected nonfarm payrolls. Looking to the week ahead (25:34), after the presidential and congressional elections, Thursday’s meeting of the Federal Open Market Committee and Federal Reserve Chairman Powell’s news conference will be topping Sam and Mark’s items to watch.
2024-11-0130 minDoubleLine MinutesA Light Week Ahead of a Busy Macro Calendar (E188)DoubleLine Portfolio Manager Jeff Mayberry and Analyst Mark Kimbrough cover the Oct. 21-25 week in stocks (0:39), fixed income (1:57) and commodities (3:36), then turn to the week’s light macro calendar (4:31), which included a mostly “stable” and “positive” Beige Book release by the Federal Reserve. The week of Oct. 28-Nov. 1 will hold more potentially market-moving news (10:42), including third quarter GDP (Wednesday); employment cost index, personal spending and income, and the PCE (Thursday); and ISM manufacturing and nonfarm payrolls (Friday).
2024-10-2517 minDoubleLine MinutesWaiting for Guy Fawkes Day (E187)DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau review for the week of Oct. 14-18 the stock (0:52) and bond (2:08) markets whose somewhat-muted volatility, according to Jeff, suggests investors are waiting for more labor market data and especially the outcome of the Nov. 5 presidential election. Commodities (4:01) ended in the red, led by a sharp decline in crude on reports Jerusalem will spare Iranian oil facilities in any reprisals over Tehran’s Oct. 1 missile attack against Israel. In a relatively quiet week on the macro front (5:54), retail sales came in stronger than expected. Looking ahead to the Oct. 21-25 week (11:02), Jeff an...2024-10-1816 minDoubleLine MinutesMixed Markets, Tempering Fed Expectations (E186)DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau on Oct. 11, 2024, review equity returns (0:44) at the start of the Q3 earnings season, a fixed income market (2:14) setting to higher yields and broad commodities (4:13) lower with energy up on geopolitical risk. The markets, they note, took the week’s macro news (5:57) in stride, including slightly higher-than-expected headline and core CPI reports for September. Jeff and Sam take note of a tempering (11:11) in market pricing of future fed funds rate cuts. Looking ahead to week of Oct. 14-18, they will be on the lookout (14:35) for export and import prices (Wednesday) and retail sa...2024-10-1220 minDoubleLine MinutesStocks Mixed, Yields Rise, Energy Surges, Labor Surprises (E185)DoubleLine Portfolio Manager Samuel Lau and Macro Asset Analyst Mark Kimbrough begin their review of the week of Sept. 30-Oct. 4 with a mixed stock market (0:42). The energy sector led the equity market, share prices buoyed by concerns of direct conflict between Israel and oil exporter Iran. The bond market (1:57) suffered a surge in yields. Commodities (3:39) marked gains, led by the energy complex. The week’s macro news (5:06) was dominated by “blockbuster” labor market news, with Mark Kimbrough fleshing out the details of Tuesday’s JOLTS and Friday’s upside surprises from the nonfarm payrolls and unemployment reports. Looking ahead to the week...2024-10-0429 minDoubleLine MinutesAnother Week, Another Run of Historic Highs for the S&P 500 (E184)DoubleLine Portfolio Manager Samuel Lau and Quantitative Analyst Eric Dhall review market activity and macro news for the week of Sept. 23-27. Sam and Eric talk another strong run of almost daily historic highs for the S&P 500 Index (00:38), a flat week for fixed income (2:18) and a positive week for the Bloomberg Commodity Index despite struggling WTI crude (4:07). Over in Macro Land (6:09), they dive into a full week of prints that delivered few, if any, surprises, including the S&P Global PMI manufacturing and services reports, a resilient housing market, weakening consumer expectations and a Personal Consumption Expenditures Price...2024-09-2721 minDoubleLine MinutesWhat’s the Impact of a Half-Point Rate Cut? (183)DoubleLine Portfolio Manager Jeffrey Mayberry and Quantitative Analyst Eric Dhall track the Sept. 16-20 week market activity leading up to and in the wake of the Federal Reserve’s big rate cut on Wednesday. Jeff and Eric look at a positive week for stocks (00:43), a down week for the Agg while the 2s10s spread de-inverted (2:00) and rising commodities boosted by energy (4:01). Over in Macro Land (5:20), prints they look at include retail sales, production numbers and what they might mean as a recession herald, jobless claims, and the LEI and its increasingly questioned data signal. They then turn to th...2024-09-2128 minDoubleLine MinutesLeading Signals for Recession and the Fed Funds Rate (E182)DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau cover the week of Sept. 9-13, 2024, which saw positive performances for stocks (0:30); fixed income (2:00), including a recessionary signal in the form of a Treasury yield curve de-inversion; and commodities (4:30). Topping the week’s macro news (5:35) were the August CPI and PPI reports. For their Topic of the Week (10:44), Jeff and Sam discuss the two-year Treasury as a leading indicator and the three-month T-bill as a coincident indicator of the federal funds target rate. Looking ahead (18:06) to the week of Sept. 16-20, apart from the FOMC meeting and Jerome Powell news conference on...2024-09-1323 minDoubleLine MinutesRough Market Week Amid (Another) Emerging Recession Signal (E181)DoubleLine Portfolio Managers Jeffrey Mayberry and Samuel Lau welcome back the NFL and then tackle a rough Sept. 2-6 run for the markets, including lots of red across equities (1:09); fixed income (3:04); and commodities (4:39), with even gold feeling ... Read More
2024-09-0629 minDoubleLine MinutesBenign Markets amid Muted Macro News (E180)DoubleLine Portfolio Manager Samuel Lau and Analyst Mark Kimbrough review a benign Aug. 26-30 week for stocks (1:04); bonds (3:26), taking note of a flattening Treasury yield curve; and commodities (7:34), with gold nearing $2500 per Troy ounce as markets ... Read More
2024-08-3023 minDoubleLine MinutesStocks, Bonds, Commodities All Aboard on Rate Cuts (E179)DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau cover an Aug. 19-23 week that brought gains for stocks (0:52) and a broad rally in fixed income (2:11) as well as a commodities market (5:15) that Friday ratified accommodative guidance from ... Read More
2024-08-2320 minDoubleLine MinutesRate Cuts Still on Track But Perhaps Not So Aggressive (E178)DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau cover a positive Aug. 12-16 week for equities (0:49), fixed income (2:37) and commodities (5:27), supported by tame inflation readings (6:38) for July and surprising strength in retail sales (8:47). The macro ... Read More
2024-08-1620 minDoubleLine MinutesA Volatile Week: Much Ado about Not Much? (E177)DoubleLine Portfolio Manager Jeff Mayberry and Macro Asset Allocation Analyst Mark Kimbrough comment on the whipsaws in stocks, bonds and commodities that by the Aug. 5-9 week’s end left markets little changed. The risk-off selloff that began Friday Aug. 2 ... Read More
2024-08-0917 minDoubleLine MinutesDovish Fed Day Flies Into Sahm Recession Signal on Friday (E176)DoubleLine Quantitative Analyst Eric Dhall and Macro Asset Allocation Analyst Mark Kimbrough cover a very exciting market week of July 29-Aug. 2, including a very rough Friday for stocks. Eric and Mark review the end-of-week selloff in stocks triggered by ... Read More
2024-08-0231 minDoubleLine MinutesTaking “Home Run” GDP with a Grain of Salt (E175)DoubleLine Portfolio Manager Samuel Lau and Quantitative Analyst Eric Dhall survey the markets’ July 22-26 scoreboard for stocks (0:59), fixed income (3:01) and commodities (4:29) before turning to the week’s macro news (5:54). Macroland produced an unequivocally robust preliminary estimate ... Read More
2024-07-2723 minDoubleLine MinutesLower Markets, But Bear-Beating Beats (E174)DoubleLine Portfolio Manager Samuel Lau and Quantitative Analyst Eric Dhall begin their review of the July 15-19 market week with returns in the red for stocks (0:52), bonds (2:18) and commodities (4:01). On the macro front (5:36), Eric Dhall ... Read More
2024-07-1924 minDoubleLine MinutesWeaker CPI, Conflicting Consumer Signals (E173)DoubleLine Portfolio Manager Samuel Lau and Macro Asset Allocation Analyst Mark Kimbrough end the week of July 8-12 with a roundup of stock (1:44), bond (4:06) and commodity (6:18) markets. Then they survey the week’s macro news (7:34), including a ... Read More
2024-07-1227 minDoubleLine MinutesA Low-Vol Week for Markets and Macro (E172)DoubleLine Portfolio Manager Jeff Mayberry and Quantitative Analyst Eric Dhall Friday morning review the stock (1:08), bond (3:16) and commodity (5:44) markets for the week ended June 28, 2024. Then they discuss the week’s macro news (7:09), including further evidence ... Read More
2024-06-2923 minDoubleLine MinutesMixed-Bag Market Week; Homing In on One Fed Cut in 2024 (E171)DoubleLine Portfolio Managers Jeffrey Mayberry and Samuel Lau cover the markets and macro news for the week of June 17-21, with markets closed Wednesday for the Juneteenth federal holiday. The S&P 500 Index was up on the week, boosted by ... Read More
2024-06-2119 minDoubleLine MinutesThe Fed Has the Same Data as Everybody Else (E170)DoubleLine Portfolio Managers Jeffrey Mayberry and Sam Lau cover the markets and macro news for the week of June 10-14, impacted as they were by the Topic of the Week: the June Federal Open Market Committee meeting and press conference ... Read More
2024-06-1434 minDoubleLine MinutesAwaiting a Wobbly Wednesday (E169)DoubleLine Portfolio Manager Jeff Mayberry and Macro Asset Allocation Analyst Mark Kimbrough cover the June 3-7 market week for stocks (0:31), on the way warning about naïve extrapolations of stock-split returns; bonds (2:42); and commodities (4:15), with energy diverging from ... Read More
2024-06-0723 minDoubleLine MinutesMarket and Macro Roundup for May 28-31 (E168)DoubleLine Capital Portfolio Managers Jeff Mayberry and Samuel Lau review markets for the week ended May 31, including a rare case of utilities as the leading equities sector year-to-date (1:00), fixed income (7:32) and commodities (9:36). Then they turn to ... Read More
2024-05-3122 minDoubleLine MinutesMixed Markets, Befuddled Fed, Falling Rate-Cut Odds (E167)DoubleLine Portfolio Manager Samuel Lau and Quantitative Eric Dhall review a mixed showing the week ended May 24, 2024, for stocks (1:09), bonds (4:04) and commodities (5:47). Turning to macro news (6:57), they note May 1 FOMC minutes show befuddlement ... Read More
2024-05-2420 minDoubleLine MinutesCPI Feeds a Green Trifecta (E166)DoubleLine Portfolio Manager Jeffrey Mayberry and Quant Analyst Eric Dhall recap a green trifecta for equities, fixed income and commodities for the week of May 13-17, powered by the CPI report, the main macro story. The CPI print was loved ... Read More
2024-05-1828 minDoubleLine MinutesSenior Loan Officers: Tighter for Longer (E165)DoubleLine Portfolio Manager Samuel Lau and Quant Analyst Eric Dhall kick of their review of the May 6-10 market week combing through a green field of equities. The utilities sector is proving quite the player in 2024 while the leaders ... Read More
2024-05-1026 minDoubleLine MinutesMarket-Moving Prints, Tapering QT and Powell’s Purple Tie (E164)DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau review stock (0:57), bond (2:46) and commodity (5:40) markets for the week ended May 3, including notable volatility in equities and fixed income in the wake of inflation data, Fedspeak and jobs ... Read More
2024-05-0539 minDoubleLine MinutesLooking Out for Stagflation, Slower QT and Tsy Refunding Hiccups (E163)For the week ended April 26, 2024, DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau review equities (1:00), fixed income (3:25) and commodities (5:52) markets. Then they discuss the week’s macro news (6:46), including more reports of sticky inflation and ... Read More
2024-04-2731 minDoubleLine MinutesRed Stocks and Bonds, Green Commodities (E162)As DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau note in their survey of markets for the week ended April 19, both equities as tracked by the S&P 500 (0:52) and fixed income as tracked by the Bloomberg US Aggregate ... Read More
2024-04-1927 minDoubleLine MinutesA Market Squeeze on Hotter Inflation, Falling Rate Cut Expectations (E161)DoubleLine Portfolio Manager Samuel Lau and Quantitative Analyst Eric Dhall review the market week of April 8-12, for stocks (1:04) and fixed income (5:05). Both asset classes were stung by the April 10’s report of a hotter-than-expected consumer price index ... Read More
2024-04-1535 minDoubleLine MinutesTGA Balances and Treasury Securities Duration (E160)After their review of equity (1:08), fixed income (2:20) and commodity (4:14) markets for the week ended April 5 and of recent macro news, DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau for their Topic of the Week (16:14) discuss ... Read More
2024-04-0535 minDoubleLine MinutesQ1 2024 Is in the Books (E159)DoubleLine Portfolio Managers Samuel Lau and Jeffrey Mayberry review the market week of March 25-28, 2024, shortened by the Good Friday holiday. Sam and Jeff also recap March and first quarter performances for equities, fixed income (3:59), commodities (6:24) and ... Read More
2024-03-2822 minDoubleLine MinutesFOMC Fedspeak: Hawkish or Dovish? (E158)For the market week ended March 22, 2024, DoubleLine’s Samuel Lau and Mark Kimbrough recap a mostly positive week for equities (2:39) and fixed income (4:03) while commodities dipped (6:43). For the Topic of the Week (13:20), Sam and Mark ... Read More
2024-03-2237 minDoubleLine MinutesStickier Inflation, Higher Yields, Lower Rate-Cut Expectations (E157)For the week ended March 15, 2024, DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau survey the equities (1:17), fixed income (3:20) and commodities (5:44) markets. Then they dive into the week’s heavy macro news schedule (8:10), including CPI, PPI ... Read More
2024-03-1526 minDoubleLine MinutesJeff and Sam Demystify Divergent Labor Surveys (E156)DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau cover a negative week ended March 8 for the S&P 500 (0:48), contrasting with a positive week for that index’s equal-weighted cousin; a positive week (3:16) for all major fixed income sectors; ... Read More
2024-03-0933 minDoubleLine MinutesMoment of Capitulation on the LEI (E154)After covering the markets for the holiday-shortened week of Feb. 20-24, mostly positive for stocks (00:18) and bonds (1:52) and mostly negative for commodities (3:30), DoubleLine’s Jeffrey Mayberry and Mark Kimbrough run down a relatively light week of macro news ... Read More
2024-02-2429 minDoubleLine MinutesStudying a Market-Moving January CPI and Narrow S&P 500 Leadership (E153)After covering stock (1:01), bond (4:08) and commodity (7:08) markets for the week ended Feb. 16, 2024, DoubleLine Portfolio Manager Samuel Lau and Quantitative Analyst Eric Dhall dive into the week’s macro news (8:50), including a January CPI report that ... Read More
2024-02-1742 minDoubleLine MinutesFederal Debt Spiral and Bond Vigilantes (E152)DoubleLine’s Jeff Mayberry and Eric Dhall review the market week (1:00) ended Feb. 9, 2024, including a new all-time high carrying the S&P 500 to close above 5000 for the first time, yields up across the investment grade segments of ... Read More
2024-02-1028 minDoubleLine MinutesStocks at New Highs, Strong GDP, but Diverging Macro Data (E150)DoubleLine Portfolio Manager Jeff Mayberry and Quantitative Analyst Eric Dhall recap the markets for the week ended Jan. 26, 2024, noting stocks (0:38) were rather tame notwithstanding new highs on the S&P 500, while fixed income (2:03) was largely flat ... Read More
2024-01-2734 minDoubleLine MinutesRetail Sales Report: A Potential Market Mover (E149)For the holiday-shortened market week of Jan. 16-19, DoubleLine Portfolio Managers Jeffrey Mayberry and Samuel Lau for the Topic of the Week (10:55) look at the Retail Sales Report, an always potentially market-moving print, as retail sales account for about ... Read More
2024-01-2029 minDoubleLine MinutesMMM E146: Stocks, Fixed Income Close Out 2023 Wrapped in GreenDoubleLine Portfolio Managers Jeffrey Mayberry and Samuel Lau Kick off the last episode of 2023 with a yearly performance review of the markets, with equities and fixed income far removed from 2022’s double bear runs. The S&P 500 Index (00:50) ... Read More
2023-12-3025 minDoubleLine MinutesMMM E145: Everything Rallies, a Dovish Powell and a Quibbling WilliamsAfter reviewing “everything rallies” for the week ended Dec. 15 in stocks, bonds and commodities, and the week’s macro news, DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau discuss the Dec. 13 monetary policy decisions and guidance of the Federal ... Read More
2023-12-1744 minDoubleLine MinutesMMM E143: Financial Conditions, a Very Strong November and Fedspeak DiscordAfter covering positive market performance in the final week (Nov. 27-Dec. 1) of a very healthy November, DoubleLine Portfolio Managers Jeffrey Mayberry and Samuel Lau dive into the latest BIS paper on financial condition indices as the Topic of the ... Read More
2023-12-0240 minDoubleLine MinutesMMM Episode 142: Markets Express “Sense of Jubilation” While Fed Officials Caution Inflation Still a ChallengeAfter covering a broad-based positive run in the markets for the week of Nov. 13-17, DoubleLine Portfolio Manager Samuel Lau and Quantitative Analyst Eric Dhall break down the latest Consumer Price Index (CPI) print (11:35), one that Dhall notes was ... Read More
2023-11-1836 minDoubleLine MinutesMMM Episode 141: Macro Feeds the Bears, Powell Turns Colorful and Some SahmAfter reviewing stocks (0:51), fixed income (3:28), commodities (6:14) and somewhat bearish macro news (8:11) for the week ended Nov. 10, DoubleLine Portfolio Manager Jeff Mayberry and Quantitative Analyst Eric Dhall cover the latest Fedspeak (14:34), including a bit of ... Read More
2023-11-1130 minDoubleLine MinutesMMM Episode 139: Scrutinizing 3Q GDP, On the Watch for Treasury RefinancingBefore a dive into the third quarter gross domestic product (GDP) report (15:58), DoubleLine Portfolio Manager Jeff Mayberry and Quantitative Analyst Eric Dhall kick things off with a review of financial markets for Oct. 23-27. All sectors of the ... Read More
2023-10-2833 min
The Sherman ShowTSS Episode 147: DoubleLine’s Scott Thomson on the Evolution of ETFsDoubleLine ETF Specialist Scott Thomson discusses his role at the firm and describes the growing use and evolution of exchange-traded funds as vehicles for trading and investment with DoubleLine Deputy Chief Investment Officer Jeffrey Sherman and Macro Asset Allocation ... Read More2023-10-2651 min
The Sherman ShowTSS Episode 147: DoubleLine’s Scott Thomson on the Evolution of ETFsDoubleLine ETF Specialist Scott Thomson discusses his role at the firm and describes the growing use and evolution of exchange-traded funds as vehicles for trading and investment with DoubleLine Deputy Chief Investment Officer Jeffrey Sherman and Macro Asset Allocation ... Read More
2023-10-2651 minDoubleLine MinutesMMM Episode 138: Paying Attention to Term Premia, Powell Speaks and Mixed Market WeekAfter covering a mixed week in the markets for Oct. 16-20, DoubleLine Portfolio Manager Jeff Mayberry and Quantitative Analyst Eric Dhall break down the concept of “term premium,” which measures the extra amount of yield or spread that bond investors ... Read More
2023-10-2132 minDoubleLine MinutesMMM Episode 137: Fed Conundrums, Negative Spreads and Broken ClocksAfter reviewing stocks (1:17), bonds (2:51) and commodities (4:14) for the Oct. 9-13 market week, DoubleLine Portfolio Manager Jeff Mayberry and Quantitative Analyst Eric Dhall cover the week’s macro news (6:42), including somewhat Fed-friendly inflation prints. Based on Fed Funds ... Read More
2023-10-1431 minDoubleLine MinutesMMM Episode 136: Recession Watch Update Amid Red Market WeekDoubleLine Portfolio Managers Jeffrey Mayberry and Samuel Lau face the heat outdoors and indoors recapping the red market week of Oct. 2-6 before a timely revisit of recession indicators (16:43). Jeff and Sam take a look at the still inverted ... Read More
2023-10-0738 minDoubleLine MinutesMMM Episode 133: Looking Under the Hood of Gas-Powered CPIDoubleLine Portfolio Managers Jeffery Mayberry and Samuel Lau kick off the episode with a nod to the 15th anniversary of Lehmann Brothers’ bankruptcy filing (Sept. 15, 2008) before running down the market week of Sept. 11-15. For their Topic of ... Read More
2023-09-1633 minDoubleLine MinutesMMM Episode 132: Treasury Refunding Needs and Potential for Funding StressFor the week ended Sept. 8, DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau start with a review of the markets for stocks (0:56), fixed income (3:27) and commodities (4:54), all of which printed with red ink. Turning to the ... Read More
2023-09-0936 minDoubleLine MinutesMMM Episode 131: More Balanced Jobs Market, But Fed Rates Still Higher for LongerAfter touring the equities (1:12), fixed income (4:08) and commodities (6:28) markets for Aug. 28- Sept. 1, DoubleLine Portfolio Manager Samuel Lau and Quantitative Analyst Eric Dhall cover the week’s heavy calendar of macro news (8:07). Highlights include the June ... Read More
2023-09-0134 minDoubleLine MinutesMMM Episode 130: Fed Chair Powell Says Higher for LongerDoubleLine’s Jeffrey Mayberry and Samuel Lau recap the market week of Aug. 21-25, which continued to mark a red monthly run for the S&P 500 (up more than 15% year-to-date (YTD)) (00:43). They also run down fixed income, where the ... Read More
2023-08-2525 minDoubleLine MinutesMMM Episode 129: Negative Week for Stocks, Bonds and Commodities amid Higher RatesDoubleLine Portfolio Manager Jeff Mayberry and Quantitative Analyst Eric Dhall begin their review of the week ended Aug. 18 with a rough market for equities (1:18) All 11 sectors of the S&P 500 ended the week in the red. The ... Read More
2023-08-1823 minDoubleLine MinutesMMM Episode 128: Alternatives to the CPIAfter reviewing stock (1:34), bond (4:01) and commodities (6:10) markets and macro news (10:13) for the Aug. 7-11 week, DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau take up the Topic of the Week (16:45): alternatives compiled by the Bureau ... Read More
2023-08-1134 minDoubleLine MinutesMMM Episode 127: July Market Report CardDoubleLine’s Eric Dhall and Mark Kimbrough run down market performance for July before diving into a recap for the week of July 31-Aug. 4. For the month, equities (00:54) delivered a pretty nice return while over in fixed income (2:12), ... Read More
2023-08-0428 minDoubleLine MinutesMMM Episode 126: Fed Focused on Inflation Even at the Price of Labor WeaknessDoubleLine Portfolio Manager Samuel Lau first covers the week of July 24-28 in terms of stocks (1:40), fixed income (3:49) and commodities (6:52). Then Macro Asset Allocation Analyst Mark Kimbrough reviews the week’s macro news (9:49), noting resilient housing prices ... Read More
2023-07-2837 minDoubleLine MinutesMMM Episode 125: Winter’s Optimism Returns Amid Summer’s HeatwaveDoubleLine’s Jeffrey Mayberry and Samuel Lau recap a very positive market week of July 17-21 as green screens throw some shade at the summer doldrums. Equities continued to roll, with all 11 sectors of the S&P 500 positive month-to-date (2:07), ... Read More
2023-07-2122 minDoubleLine MinutesMMM Episode 124: Inflation Progress, But Potential Headwinds AheadDoubleLine Portfolio Manager Samuel Lau and Quantitative Analyst Eric Dhall tour market and macro news for the July 10-14 week, then look into the week ahead. The discussion begins with markets, including U.S equities (2:02), fixed income (4:08), commodities (6:15), ... Read More
2023-07-1429 minDoubleLine MinutesMMM Episode 123: Vol in Bonds, Fed Funds Odds and a Janus-Faced EconomyDoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau review market performance of the week ended July 7 for equities (2:27), fixed income (3:44) and commodities (8:42). Then they turn to the week’s macro prints (12:03), among other observations noting the ... Read More
2023-07-0728 minDoubleLine MinutesMMM Episode 122: Midyear Market ReviewDoubleLine’s Jeffrey Mayberry and Samuel Lau on the final day of June review the markets for the week of June 26-30 and also provide performance snapshots for the month, second quarter and year-to-date. After bidding farewell to LIBOR*, Jeff and ... Read More
2023-06-3031 minDoubleLine MinutesMMM Episode 121: Powell Talks More Hikes, Futures Don’t Think SoDoubleLine Portfolio Manager Jeff Mayberry and Quantitative Analyst Eric Dhall cover the June 19-23 week’s performance in equities (1:57), fixed income (3:19) and commodities (5:04), then digest bearish readings (7:11) in the latest initial jobless claims report and reading on ... Read More
2023-06-2322 minThe Sherman ShowTSS Episode 132: Jeff Mayberry’s 2022 Score Card and 2023 LineupDoubleLine Portfolio Manager Jeff Mayberry returns as a guest to share his market and macro outlooks for 2023 with DoubleLine Deputy Chief Investment Officer Jeffrey Sherman and Portfolio Manager Samuel Lau. Noting Mr. Mayberry gave his outlooks a year ago ... Read More
2023-01-261h 08The Sherman ShowS11 E6: DoubleLine Equities Strategist Emidio Checcone on Process, Valuation and PositioningDoubleLine’s Jeffrey Sherman and Sam Lau welcome Emidio Checcone, the firm’s portfolio manager of actively managed equity value and core strategies. Mr. Checcone shares how his history in the business, including experience at both growth- and value-focused shops, informs his investment philosophy and influences his differentiated equity research approach. He also highlights how incorporating DoubleLine’s macro viewpoints into his bottom-up research process confers added insights. The trio discusses the equities market’s performance amid the pandemic and whether we have seen “peak earnings growth” (starts at 6:01), how this period of unprecedented fiscal stimulus impacts traditional valuation metrics (11:12) and what it...2021-08-2445 minThe Sherman ShowS6 E7 Joe Mezyk, CLO Analyst - DoubleLine, The Sherman ShowCLO analyst Joe Mezyk joins The Sherman Show to explain the $750 billion collateralized loan obligation market with DoubleLine’s Jeffrey Sherman and Samuel Lau. Their discussion starts by explaining floating-rate bank loans which form the collateral of CLOs and how ... Read More2019-09-2656 minThe Sherman ShowS6 E7 Joe Mezyk, CLO Analyst – DoubleLine, The Sherman ShowCLO analyst Joe Mezyk joins The Sherman Show to explain the $750 billion collateralized loan obligation market with DoubleLine’s Jeffrey Sherman and Samuel Lau. Their discussion starts by explaining floating-rate bank loans which form the collateral of CLOs and how ... Read More
2019-09-2656 minThe Sherman ShowS6 E6 Brendt Stallings, Portfolio Manager - DoubleLineDoubleLine Capital portfolio manager Brendt Stallings joins DoubleLine Deputy Chief Investment Officer Jeffrey Sherman and portfolio manager Samuel Lau for a broad discussion of the U.S. equity market on The Sherman Show. Much of their discussion centers on the prospects ... Read More2019-09-1243 minThe Sherman ShowS6 E6 Brendt Stallings, Portfolio Manager – DoubleLine, The Sherman ShowDoubleLine Capital portfolio manager Brendt Stallings joins DoubleLine Deputy Chief Investment Officer Jeffrey Sherman and portfolio manager Samuel Lau for a broad discussion of the U.S. equity market on The Sherman Show. Much of their discussion centers on the prospects ... Read More
2019-09-1243 minThe Sherman ShowS6 E3 - Andrew Hsu, Infrastructure and ABS Team, DoubleLineAndrew Hsu Conducts a Tour d’Horizon of the Structured Products Universe
Andrew Hsu, a founding partner of DoubleLine Capital and head of the firm’s Global Infrastructure and Asset-Backed Securities teams, takes listeners on a survey of structured products, from one of ... Read More2019-07-3044 minThe Sherman ShowS6 E2 Jeffrey Gundlach, CEO - DoubleLine, The Sherman ShowIn a conversation recorded July 2, 2019 for The Sherman Show, DoubleLine CEO Jeffrey Gundlach, Deputy Chief Investment Officer Jeffrey Sherman and portfolio manager Samuel Lau, among other topics, cover the roller-coaster ride in the equity markets, rising odds of ... Read More2019-07-1859 minThe Sherman ShowS5 E7 Ron Redell, President – DoubleLine Group, The Sherman ShowRon Redell, president of DoubleLine Group, discusses his career in asset management, the creation from scratch of DoubleLine’s operational infrastructure, the challenges of navigating the changes in asset management and the DoubleLine culture in a Sherman Show podcast recorded March ... Read More2019-04-0841 minThe Sherman ShowJeffrey Mayberry - Portfolio Manager, DoubleLine - The Sherman Show
Political brinksmanship as a source of a deceleration in consumer & business sentiment, market complacency over the Fed’s commitment to tightening and likelihood of higher rates come up in a tour d’horizon by DoubleLine’s Jeffrey Sherman, Jeff Mayberry and Sam ... Read More2019-01-1053 minThe Sherman ShowS4 E8 Brendt Stallings, Portfolio Manager-DoubleLine, The Sherman ShowDoubleLine portfolio manager Brendt Stallings joins Jeffrey Sherman and Sam Lau on The Sherman Show to discuss the change of the S&P 500’s former Telecommunication Services sector into the new Communication Services sector. This represents the biggest change to the ... Read More2018-11-0128 minThe Sherman ShowS4 E7 - Joe Galligan, EVP - DoubleLine, The Sherman ShowDrawing on his decades in the financial markets, Joseph Galligan, a founding partner of DoubleLine, shares lessons on crowd behavior, market bubbles and panics, and how to risk-manage and survive them, with DoubleLine Deputy CIO Jeffrey Sherman and portfolio manager ... Read More2018-10-0543 minThe Sherman ShowS4 E4 Jeffrey Gundlach - CEO, DoubleLine - The Sherman ShowJeffrey Sherman, DoubleLine’s Deputy CIO and Sam Lau, DoubleLine Portfolio Manager discuss market “truisms” with DoubleLine’s CEO, Jeffrey Gundlach
2018-08-2049 minThe Sherman ShowMark Christiansen, Su-Fei Koo - International Fixed Income, DoubleLineJeffrey Sherman, DoubleLine’s Deputy CIO and Sam Lau, DoubleLine Macro Asset Allocation, welcome Mark Christiansen and Su-Fei Koo from DoubleLine’s International Fixed Income team to discuss Emerging Markets.
2018-03-2238 minThe Sherman ShowS3 E2 – Ryan Kimmel, Multi-Asset Growth Strategy Analyst, DoubleLine, The Sherman ShowJeffrey Sherman, DoubleLine’s Deputy CIO and Sam Lau, DoubleLine Macro Asset Allocation, talk to Ryan Kimmel, DoubleLine Multi-Asset Growth Analyst about the markets, macro-asset strategies, trading and surfing.
2018-02-0735 minThe Sherman ShowS2 E2 – Ken Shinoda, Portfolio Manager Mortgage-Backed Securities, DoubleLine, The Sherman ShowJeffrey Sherman, DoubleLine’s Deputy CIO & Sam Lau, DoubleLine’s Asset Allocation Analyst, host a candid conversation with Ken Shinoda, Portfolio Manager, discussing mortgages, the mortgage crisis and where we are today in the sector.
2017-09-2137 minThe Sherman ShowS2 E1 – Jeff Mayberry, Asset Allocation, DoubleLine, The Sherman ShowJeffrey Sherman, DoubleLine’s Deputy CIO & Sam Lau, DoubleLine’s Asset Allocation Analyst, host a candid conversation with Jeff Mayberry, member of the management team and trading for derivatives based and multi-asset strategies at DoubleLine, discussing commodities, Europe, the economy, and ... Read More2017-09-0640 minThe Sherman ShowS1 E7 – Jeffrey Gundlach, CEO & CIO, DoubleLine, The Sherman ShowJeffrey Sherman, Deputy CIO and Sam Lau, DoubleLine’s Asset Allocation Analyst host an interesting interview with Jeffrey Gundlach, DoubleLine’s CEO, who turns the tables on the fearsome duo.
2017-07-0541 minThe Sherman ShowS1 E6 – Robert Cohen, Director Global Developed Credit, DoubleLine, The Sherman ShowJeffrey Sherman, DoubleLine’s Deputy CIO & Sam Lau, DoubleLine’s Asset Allocation Analyst, discuss “DoubleLine’s Credit, team, Floating Rate and Loans” with Robert Cohen, Director of DoubleLine’s Global Developed Credit team.
2017-06-2138 minThe Sherman ShowS1 E5 – Monica Erickson, Portfolio Manager, DoubleLine, The Sherman ShowJeffrey Sherman, DoubleLine’s Deputy CIO & Sam Lau, DoubleLine’s Asset Allocation Analyst, discuss “U.S. Credit” with Monica Erickson, DoubleLine’s Global Developed Credit portfolio manager.
2017-06-0633 minThe Sherman ShowS1 E4 – Bill Campbell, Portfolio Manager International Fixed Income, DoubleLine, The Sherman ShowJeffrey Sherman, DoubleLine’s Deputy CIO & Sam Lau, DoubleLine’s Asset Allocation Analyst, talk “Global Investment Strategies” with Bill Campbell, DoubleLine’s Global Bond portfolio manager.
2017-05-2540 minThe Sherman ShowS1 E3 – Jeff Mayberry, Asset Allocation, CAPE, Rising Rates, DoubleLine, The Sherman ShowJeffrey Sherman, DoubleLine’s Deputy CIO and Sam Lau, DoubleLine’s Asset Allocation Analyst, talk “Rising Rates, Markets and Fixed Income” with Jeff Mayberry, a member of DoubleLine’s Asset Allocation portfolio management team.
2017-05-1239 minThe Sherman ShowS1 E2 – Damien Contes, Andrew Hsu, Portfolio Managers Infrastructure, DoubleLine, The Sherman ShowJeffrey Sherman, DoubleLine’s Deputy CIO and Sam Lau, DoubleLine’s Asset Allocation Analyst, talk “Infrastructure” strategy & investing with Damien Contes and Andrew Hsu, DoubleLine’s Global Infrastructure Investment Portfolio Managers.
2017-04-2735 min