DoubleLine’s Jeffrey Mayberry and Samuel Lau on the final day of June review the markets for the week of June 26-30 and also provide performance snapshots for the month, second quarter and year-to-date. After bidding farewell to LIBOR*, Jeff and Sam discuss the S&P 500’s performance (3:05), including the big performers and laggards as well as the healthy shot in the arm from AI companies. In their recap of fixed income (8:44), they discuss the Rip Van Winkle effect in regard to 10- and 30-year U.S. Treasuries despite some large fluctuations amid March’s banking crisis. It was a rough half-year for commodities (14:24) while Bitcoin’s performance (up 85%) looms large (16:31).

Over in Macro Land (17:12), quarterly GDP numbers are starting to look stronger than expected while the week also delivered a mixed bag of economic numbers, including prints on home prices, jobless claims, personal income and savings, and the latest PCE. Next week (23:11), which includes the Fourth of July holiday, will deliver the June FOMC meeting minutes and JOLTS numbers, and we’ll see where the manufacturing and services prints land in terms of expansion and contraction.

*If you would like to hear more on the history of LIBOR and why it was shown the door, check out: 
https://podcasts.apple.com/us/podcast/mmm-2021-mar-week-3/id1556154252?i=1000513939317

MMM Episode 122: Midyear Market Review

Monday Morning Minutes