A Market with Nowhere to Hide

DoubleLine Portfolio Manager Jeff Mayberry and Analyst Mark Kimbrough survey weakness across equity, fixed income and commodities for the week ended March 20 amid light macro reports, an uncertain Fed and war in the Middle East. For the week’s macro news, Jeff says surging energy costs and concerns over the Persian Gulf wiped out earlier expectations for federal funds rate cuts this year. Mark notes “everything across the board” in the February PPI report “exceeded expectations.” With a light economic calendar for March 23-27, Mark is more interested in the March data coming through in two weeks, showing “the effects of all the volatility we’ve been experiencing the last couple of weeks,”