Tripping on the Trump Tariff Two-Step (E205)

DoubleLine Portfolio Manager Jeff Mayberry and Analyst Mark Kimbrough survey a volatile March 3-7 week for equities (0:32) and fixed income (3:06) amid sentiment cross currents over the possibility of trade tariffs while commodities (4:54) posted gains. “Markets have tended to overreact” to the on-again, off-again news about tariffs, Jeff Mayberry says. “All that seems to be weighing on sentiment.” Their review of the week’s macro news (6:23) covers among other items ISM manufacturing and services surveys and a raft of labor market prints, including nonfarm payrolls and unemployment. The household survey, Mark Kimbrough notes, shows “signs of degradation no matter how you slice it.” The week (18:23) of March 10-14 promises key inflation readings, including consumer price index for February (Wednesday) and producer price index for the same month (Thursday).