DoubleLine Portfolio Manager Jeff Mayberry and Analyst Mark Kimbrough review a holiday-shortened week (Sept. 8-11) that delivered a mixed bag for markets: S&P 500 stocks were mostly down but not by much (00:53); bonds had an interesting week as the U.S. Treasury Department’s buyback exceeded its initially discussed goal of $4 billion (3:05); and commodities climbed on higher energy prices, including record diesel prices at the pump (6:09). Over in Macro Land, the main attraction was Inflation Week (7:34). Messrs. Mayberry and Kimbrough break down new prints for the Producer Price Index (8:55) and Consumer Price Index (11:02), which contained no surprises but boosted the odds of a hike at the FOMC meeting, next week’s main event (16:15).
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 (FIAA) committee and a contributing member on our Global Asset Allocation committee. He also co-hosts DoubleLine’s weekly “Minutes” podcast (X @DLineMinutes, Minutes@Doubleline.com). 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. Kimbrough joined DoubleLine in 2012, working primarily on Agency Mortgage-Backed Securities and the Fixed Income Asset Allocation process as a member of the Risk Analyst team. He transitioned in 2019 to his current role as an Analyst on the Macro Asset Allocation team. Mr. Kimbrough also co-hosts DoubleLine’s weekly “Minutes” podcast (X @DLineMinutes, Minutes@Doubleline.com). Prior to DoubleLine, Mr. Kimbrough was at WAMCO, working on systems monitoring and development within the Risk Department. He holds a B.S. in Business Administration with a concentration in Real Estate Finance and a minor in Economics from the University of Southern California. Mr. Kimbrough is a CFA® charterholder.
