DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau cover a positive Aug. 12-16 week for equities (0:49), fixed income (2:37) and commodities (5:27), supported by tame inflation readings (6:38) for July and surprising strength in retail sales (8:47). The macro picture and the latest Fedspeak, add up, they reason, to rate cutting, beginning at the Sept. 18 meeting of the Federal Open Market Committee, but not at an aggressive pace. Looking ahead to Aug. 19-23 (15:25), Jeff and Sam will be especially on the lookout for any policy nuances in Fed Chair Jerome Powell’s Jackson Hole retreat speech on Friday. Further out, they are keen to see the next labor market readings ahead of next month’s FOMC meeting.

Rate Cuts Still on Track But Perhaps Not So Aggressive (E178)

Monday Morning Minutes