After wrapping up the market and macro news of Oct. 4-10, Jeff Mayberry and Samuel Lau explain Triple Witching Hour and its cousins: the Double Witching Hour and the erstwhile Quadruple Witching Hour (13:02). The week of Oct. 4-8 brought with it temporary action to fund the federal government, averting the possibility, however remote, of a default by the U.S. Treasury on its obligations. The podcast hosts, speaking intraday before the close, discuss a breakout above 1.50% for the 10-year Treasury yield (2:18), although Jeff points out that the 10-year bond has a way to go before reaching 1.74%, its high for calendar year 2021. The podcast hosts note the T-bill market’s response to the debt ceiling theatrics (7:34).
A mixed bag of positive and disappointing news on the jobs and unemployment front (8:24) had Jeff and Sam asking about the implications for a possible tapering of asset purchases by the Federal Reserve. Looking ahead, for the week of Oct. 11-15, among other data points, Jeff and Sam will be looking for how the Consumer Price Index for September compares to expectations of a year-over-year rise of 8.8% and what is to be gleaned from the release of the next batch of FOMC minutes.
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.