DoubleLine Portfolio Manager Jeff Mayberry and Quantitative Analyst Eric Dhall run down a Dec. 12-16 market performance that shifted in the wake of Wednesday’s FOMC rate hike. Equities perhaps partied too hard Wednesday after the Fed delivered only a 50-basis-point hike, closing out the week down while rates rallied across the U.S. Treasury curve (1:56). The BCOM marked a tiny boost for commodities, and it looks like Bitcoin might miss out on a holiday bonus this year (5:45). On the macro front, November CPI was down versus expectations (7:27) but the FOMC meeting was the news event of the week. For their Topic of the Week (13:12), Jeff and Eric review the FOMC rate hike and market reaction, including the Dow’s real-time response to Fed Chair Jerome H. Powell’s speech. The pair also read the dot-plot tea leaves with a look toward next year and beyond, and they review some of the more intriguing questions and answers at Chair Powell’s press conference. The episode closes with a lengthy list of data prints to keep an eye on (26:35), as the show will take off Dec. 23 before returning Dec. 30 for a year-end roundup!
Happy Holidays From Monday Morning Minutes!
Subscribe to the Monday Morning Minutes podcast on:
iTunes | Soundcloud | Stitcher | Spotify | Google Podcasts
You can also access Monday Morning Minutes on your mobile device.
Follow us on Twitter
Comments and suggestions should be directed to Minutes@doubleline.com
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. 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.
