city
yellow

DoubleLine Podcasts

MMM Episode 73: It Could Go Either Way

DoubleLine’s Jeffrey Mayberry and Samuel Lau shut the door on a rough first half to the year and begin the second half with coverage of the short, pretty crazy week of July 5-8. Following last week’s signals pointing toward recession, this week included a strong run by the S&P 500 and offered data that could be pointing to at least a little growth (1:59). In fixed income (3:03), the U.S. Treasury yield curve closed the week above the 3 handle across the board, but the 2s10s (two-year/10-year) inversion clocked in across all four days. Jeff and Sam wonder if Monday will bring the fifth consecutive day, a traditional barometer pointing toward recession, and if any analysts will change their tune on how long the inversion must last. Sam also says to be on the lookout for an inversion of the 3s10s (three-month/10-year), a very reliable herald of recession. Commodities’ big positive print on the year continued to fade (7:01).

Jeff and Sam note the stock market doesn’t seem to be following a recessionary narrative before moving into Macro Land (9:15), which delivered services PMI and labor data that could be read as bolstering or questioning a recession story. Next week brings the June CPI and an answer to whether peak inflation was hit in May. This episode was recorded after market close July 8, 2022.

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.

logo

DoubleLine

2002 N. Tampa St.
Suite 200
Tampa
FL 33602

813.791.7333

 

This is a Test!

DoubleLine is testing our emergency back-up plan. If this were a real emergency, DoubleLine would be posting news, updates, contact information, webcast or conference call information here to keep our clients updated on the situation. To contact DoubleLine, please click here.

×
 

Thank you for your request(s). You will receive slides after the webcast has started. Replay and Recap notifications will take several days following the compliance review.

×
 

    Please fill in your information below in order to open this article in your browser.

    I am an Institutional Investor [recaptcha]