DoubleLine Portfolio Manager Samuel Lau and Quant Analyst Eric Dhall kick of their review of the May 6-10 market week combing through a green field of equities. The utilities sector is proving quite the player in 2024 while the leaders of recent previous quarters continue in their new roles as laggards. In fixed income (4:16), it was a mostly flat week for U.S. Treasury yields and the Agg. Commodities delivered for another week with gold continuing to flex (5:59). 

Over in Macro Land (7:11), a light week brought a tighter-for-longer narrative in the latest Senior Loan Officer Opinion Survey, leading Sam and Eric to discuss how different businesses are experiencing the current economy. The bears got some food this week from a spike in initial jobless claims (11:55), and the University of Michigan Consumer Sentiment Index provided some insight into the Wisdom of the Common Person in regard to inflation expectations (12:47). The week’s Fedspeak roundup tracks Fed officials maintaining the message on persistent inflation (16:19). Looking ahead to a week of inflation prints (20:34), including PPI and CPI, Sam and Eric will also be keeping an eye on retail sales, import prices and the LEI. This episode was recorded May 10, 2024, after market close.

Senior Loan Officers: Tighter for Longer (E165)

Monday Morning Minutes