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.
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