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December 9, 2022 | Monday Morning Minutes

MMM Episode 94: Lower Stocks, Higher Yields and PPI under the Microscope

DoubleLine Portfolio Manager Jeff Mayberry and Quantitative Analyst Eric Dhall start with a review the Dec. 5-9 week’s red ink in stocks (1:41), higher yields for bonds (2:43) and more red ink in commodities (4:21), the latter led lower by energy with oil down to $75.10 a barrel, making a new low for 2022. For their Topic of the Week, the hosts dissect the Producer Price Index (13:15), compare its differences with the Consumer Price Index and discuss the PPI’s uses and limitations as a predictor of price trends. Looking ahead to the week of Dec. 12-16 (23:36), Jeff and Eric will be on watch for the November headline and core CPI reports on Tuesday and import prices on Wednesday ahead of meeting of the Federal Open Market Committee the same day amid market expectations of a 50 basis point hike in the federal funds target rate.

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About the Hosts

About the Hosts

  • Jeffrey Mayberry

    Macro-Asset Allocation

    Jeffrey Mayberry

    Macro-Asset Allocation

    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.

  • Samuel Lau

    Macro-Asset Allocation

    Samuel Lau

    Macro-Asset Allocation

    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.