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DoubleLine Podcasts

MMM Episode 45: Weak Week for Risk, Very Good Fed Messaging and Powell Pivots to Practitioner

DoubleLine’s Jeff Mayberry and Sam Lau break down the markets going into the holiday break – no Monday Morning Minutes next week – with a weak run for risk assets for the week of Dec. 13-17. Jeff and Sam take a look at markets, noting that bitcoin served as a good risk barometer for the stock market as they were both down for the week. An unexpectedly accelerated Producer Price Index and weaker than expected retail sales were among the news from Macro Land (6:30). The duo dives into the Federal Open Market Committee meeting and Fed Chair Jerome H. Powell’s press conference, doling out high praise for Powell’s masterful performance and handling of some not-so-penetrating press questions (10:05). Jeff and Sam break down the market’s reaction to an accelerated taper pace (13:04), what a March 2022 conclusion to the taper might mean for the timeline of interest rate hikes (15:08) and if Fed officials are already floating a schedule for reducing the balance sheet (32:50), among other topics. Jeff and Sam will be back on New Year’s Eve to cover the final two weeks of the year and the other 50 with a 2021 Year in Review. Happy Holidays! This episode was recorded Dec. 17, 2021.

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.

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