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DoubleLine Podcasts

MMM Episode 36: T-bills Handicapping Congress, a 10-Year Breakout and Triple Witching Hours

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. 

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].

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