DoubleLine 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), the U.S. dollar (6:59), gold (7:31) and Bitcoin (7:47). The macro news (8:13) was dominated, as Eric Dhall notes, by a “trifecta of beats” on the inflation front, with the CPI and PPI showing lower-than-expected inflation in June and import prices showing outright deflation. The podcast hosts, however, tempered that news with the observation that if housing prices remain resilient, core consumer inflation (ex-food and energy) could find a floor at 3% year-over-year. Looking ahead to the July 17-21 week (23:09), Sam and Eric have on their radar retail sales and industrial production (due Tuesday), initial and continuing jobless claims (Thursday) and the recession-flashing Leading Economic Index (Thursday).
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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 (FIAA) 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. Lau joined DoubleLine in 2009. He is a Strategist on the Fixed Income Asset Allocation (FIAA) Committee and a contributing member on the Global Asset Allocation and Macro committees. Mr. Lau is a Portfolio Manager on DoubleLine’s strategic commodity strategy while working in portfolio management and trading for derivatives-based and multi-asset strategies, including DoubleLine's Shiller Enhanced CAPE®, Shiller Enhanced International CAPE®, Real Estate and Income, and Multi-Asset Trend strategies. He also co-hosts the Sherman Show (Twitter @ShermanShowPod, ShermanShow@Doubleline.com) and Monday Morning Minutes (Twitter @DLineMinutes, Minutes@Doubleline.com) podcasts. Prior to DoubleLine, Mr. Lau was a Vice President at TCW where he worked under Jeffrey Gundlach as a Research Analyst in the Mortgage Group. He holds a B.S. from the University of Wisconsin, Madison and an MBA from the Marshall School of Business at the University of Southern California.