After reviewing a red week for stocks, gold (almost -2%) and Bitcoin (almost -9%) and a flat week for bonds and commodities, Jeff Mayberry and Samuel Lau size up the impact on housing evictions and rents, as well as the possibility of durable follow-throughs into inflation gauges, after the U.S. Supreme Court’s overturning of the Biden administration’s eviction moratorium (11:05). With an estimated 750,000 households facing possible eviction and 3½ million households behind on their rent, the ruling stands to have significant economic and social repercussions, but those will take time to emerge.
Given listener interest in the in’s and out’s of U.S. Treasury auctions, Jeff and Same discuss the tone the Sept. 9 Long Bond auction (3:18). The auction brought $24 billion of Uncle Sam’s 30-year IOUs to market; the Long Bond “traded through”: nearly 2 basis points below its pre-auction level. That’s “a sign,” Jeff notes, “that demand exceeded dealers’ expectations.” The co-hosts consider Treasury Secretary Janet Yellen’s alarm bells to Congress over the national debt ceiling deadline, and … they roll their eyes (27:21).
The views and opinions expressed herein are as of the date recorded and should not be construed as an offer to buy or sell any securities. Such views/opinions may differ from those of DoubleLine Capital or other of its affiliates and are subject to change without notice. DoubleLine has no obligation to provide any updates or changes. The following audio presentations represent DoubleLine’s intellectual property. No portion of these presentations may be published, reproduced, transmitted or rebroadcast in any media in any form without the express written permission of DoubleLine. DoubleLine has no obligation to provide any updates or changes. To receive permission from DoubleLine please contact [email protected].
Neither DoubleLine nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed.
DoubleLine is not providing any financial, economic, legal, accounting or tax advice in these podcasts. The receipt of these podcasts by any listener is not to be taken as constituting the giving of investment advice by any DoubleLine entity or individual to that listener, nor to constitute such person a client of any DoubleLine entity. The portfolio risk management process includes an effort to monitor and manage risk, but does not imply low risk.