DoubleLine’s Jeff Mayberry and Samuel Lau ignore L.A.’s June gloom to review the short, positive market week of June 1-4 that was busy on the macro front and might have set a record for the mention of records. Sam’s take from the previous episode on a rise in crude prices was borne out, and Jeff shares some positive numbers on manufacturing, services and unemployment, including improvement in the long-term unemployed category. For the question of the week (starts at 15:10), the two answer questions from listeners on the operation and purpose of the Fed’s overnight reverse repurchase agreement facility, a QE tool created in 2014. The duo also fondly recalls the DoubleLine pre-pandemic observance of Pizza Friday, and, as always, they are happy just not to be negative.
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