DoubleLine Portfolio Manager Jeff Mayberry and Fixed Income Asset Allocation Strategist Ryan Kimmel recap the markets for the week of April 21-25, noting how the post-April 2 volatility has made it seem like a very long month. Equities (0:53) were up on the week, with the trade stories of 2024 on growth, value and tech putting in an appearance. The bond market (2:21) had a pretty quiet week while the Agg continued to have a pretty good run in the new year. Commodities (3:33) were flat. Jeff and Ryan note that the markets seemed to dodge another volatile week after President Donald Trump walked back his calls for removal of the Fed chair. Over in Macro Land (7:54), they look at mixed April prelim manufacturing and services PMI numbers, consistent initial jobless claims and a consumer sentiment score that is usually only seen in crises. The week in Fedspeak (15:48) had a pair of Fed governors each addressing a side of the agency’s inflation-employment mandate. Next week (18:34) will bring prints including JOLTS numbers, a Q1 GDP estimate (very low) and inflation data.
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Mr. Mayberry joined DoubleLine in 2009. He is a Portfolio Manager on DoubleLine’s strategic commodity strategy while working in portfolio management and trading for derivatives‐based and multi‐asset strategies. Mr. Mayberry is a Strategist on the Fixed Income Asset Allocation Committee and a contributing member on our Global Asset Allocation and Macro committees. He also co-hosts DoubleLine’s weekly Monday Morning Minutes (Twitter @DLineMinutes, Minutes@Doubleline.com) podcast. Prior to DoubleLine, Mr. Mayberry was a Senior Vice President at TCW for nine years within the Mortgage Group, where he specialized in portfolio and fund monitoring and analytics. He holds a B.S. in Engineering from Harvey Mudd College and an M.S. in Financial Engineering from the Peter F. Drucker Graduate School of Management at Claremont Graduate University.
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.
