Bulls in Control as AI Animal Spirits Alive and Well (E221)

DoubleLine Portfolio Manager Eric Dhall and Analyst Mark Kimbrough recap market performance for the week of June 23-27 as well as the month and second quarter, which was a pretty good run for asset holders. They review the healthy performances for stocks (00:18) and bonds (2:48), recap a rough period for commodities (4:04), check in on the safe-haven assets of gold and Bitcoin (5:02) and discuss the economic bellwether of copper and the U.S. dollar (5:42). Over in Macro Land (7:01), prints include prelim U.S. PMI numbers for June that reflect a decent expansion period; home prices in April experiencing their second month of contraction (9:31); a new Q1 GDP estimate (11:19), which prompts Eric and Mark to note the importance of waiting for the merged data for trade-flow-impacted Q1 and Q2; and PCE numbers that are moving in the Fed’s direction (17:53).

 

There will be no episode next week with Friday’s holiday, but the show will return July 11.

Have a Happy Fourth of July!