Aug. 11-15: Stocks Disperse, Rates Reverse (E227)

 DoubleLine Portfolio Manager Eric Dhall and Analyst Mark Kimbrough dissect a market week ended Aug. 15 marked by positive stocks, with an interesting dispersion within the asset class (0:46); bonds troubled by inflation readings (3:14); and flat commodities (4:45). The week’s macro calendar (7:38) was packed with inflation news. After a noncommittal July CPI, a hawkish July PPI prompted a selloff in rates and moderated Fed rate-cut probabilities for the remainder of 2025, with the futures market pricing in two cuts by year-end. On Friday, a 4% import-prices jump for July exceeded expectations, albeit the year-over-year change was -0.2%. Looking ahead to the week of Aug. 18-22, Eric and Mark will have on their radar (19:59), among other news, the FOMC July 30 meeting minutes (Wednesday) and Fed Chair Jerome Powell’s speech (Friday) at the Kansas City Fed’s annual central banking conference in Jackson Hole, Wyoming.