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DoubleLine Podcasts

MMM Episode 66: A Narrow Bear Escape, Diversity in Face of Inflation and Consistent Fed Speak

With Samuel Lau on the road, DoubleLine’s Jeff Mayberry is joined on the latest episode of Monday Morning Minutes by Eric Dhall, a trader and quantitative analyst on the firm’s Cross Asset team, to break down a volatile May 16-20 week in the markets. Jeff and Eric begin with a look at the S&P 500, which narrowly averted a bear market Friday and was down 3% on the week. Energy, healthcare and utilities were the week’s only positive performers. Consumer discretionary was the big loser, down almost 8% on the week and 31% on the year. Bonds actually helped this week for those with a diversified portfolio, with Eric pointing out the value of diversification amid a bear scenario. (3:35) Over in Macro Land, Eric digs into a retail sales report that generated positive headlines but could be heralding price hikes at some big retail chains. (7:29) The labor market remained strong, posing a challenge to inflation-fighting efforts by the Fed, whose messaging is saluted by Jeff and Eric for being consistent. (10:28) The Topic of the Week will return next week, when Sam rejoins Jeff to take a look at the FOMC’s May meeting minutes.

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