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Jan 31, 2025 | DoubleLine Minutes

Fed Flusters Markets, DeepSeek Daunts Tech (E200)

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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 some comfort to the Fed. Looking ahead to the week of Feb. 3-7, Eric and Ryan will have nonfarm payrolls due Friday at the top of their watch list.

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ABOUT THE HOSTS

ABOUT THE HOSTS

  • Eric Dhall

    Macro Asset Allocation
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    Eric Dhall

    Macro Asset Allocation

    Mr. Dhall joined DoubleLine in 2013. He is a Portfolio Manager on the Macro-Asset Allocation team where he works with portfolio management performing analysis and trading for derivatives-based and multi-asset strategies. Mr. Dhall’s research and analysis has contributed to the team’s development of DoubleLine’s smart-beta suite of strategies. Prior to DoubleLine, he worked at Capital Group performing quantitative analysis in fixed income. Prior to Capital Group, Mr. Dhall was an instructor in finance at the UCLA Anderson School of Management and a research instructor at the UCLA Samueli School of Engineering. Previous to that, he worked in International Finance at Gulf Machinery Company. Mr. Dhall holds a B.S. in Physics with a secondary emphasis in Business from the University of California, Berkeley and an M.S. in Financial Engineering from the UCLA Anderson School of Management.

  • Ryan Kimmel

    Analyst
    Macro Asset Allocation
    READ BIO

    Ryan Kimmel

    Analyst
    Macro Asset Allocation

    Mr. Kimmel joined DoubleLine in 2013. He is an Analyst overseeing the Multi-Asset Growth Strategy. Prior to DoubleLine, Mr. Kimmel was a Proprietary Trader at The Gelber Group, trading currencies for the Foreign Currency Group. Previous to that, he was an Investment Banking Analyst in Morgan Stanley’s Mergers and Acquisitions Group. Mr. Kimmel holds a B.A. in Business Economics from the University of California, Los Angeles (UCLA) and an MBA from UCLA’s Anderson School of Management.