DoubleLine Deputy CIO Jeffrey Sherman on hyperscaler debt issuance, how the credit market is absorbing it and why triple C stress hasn’t spread to the rest of high yield.

DoubleLine Deputy CIO Jeffrey Sherman joins @BloombergTV's Real Yield to discuss the Treasury bounce, fiscal fears, midterm gridlock and fading foreign demand for Treasuries.

Mayberry and Kimbrough go through the latest S&P Global U.S. PMI numbers: a very strong report with very strong inflation. 🎙️👉podcasts.apple.com/us/podcas…

The Pending Home Sales Index – a forward-looking indicator of home sales based on contract signings – declined 7.3%MoM in September to 66.0, an all-time low.

Stephen Dopp welcomes Empower’s Joe Smolen to The Glide Path for a look at recordkeeper consolidation, fintech competition and the trends shaping retirement, from private assets to pooled employer plans. Subscribe on @Spotify @ApplePodcasts @amazonmusic youtube.com/watch?v=nOsYndfI…

“Investors are thinking of putting money to work in lower-risk securities yielding 5%-6%,” says DoubleLine Portfolio Manager Eric Dhall, who sees “a connection between the Oct. 12-16 rally in fixed income and indigestion with the AI buildout.” youtube.com/watch?v=s8bWry7_…

DoubleLine Allocation Strategist Ryan Kimmel notes “even though the cap-weight S&P 500 is down on the week” ended Oct. 16 “the equal-weight index is providing diversification.” youtube.com/watch?v=s8bWry7_…

DoubleLine’s Bill Campbell joins @BloombergTV to discuss AI credit risk, the case for higher quality credit and the belly of the curve and where we still see value in emerging market local debt. youtube.com/watch?v=OoJBjnkp…

DoubleLine Deputy CIO Jeffrey Sherman joins CNBC after a hot CPI print to discuss the Fed, stress in AI financing and our focus on short duration credit and the belly of the curve. youtube.com/watch?v=6D5LkmX9…

The September producer price inflation data was hotter than expectations. Final demand +1.34%MoM vs. +0.6% consensus and +0.47% the previous month. Year-over-year accelerated to 6.34% vs. 5.4% consensus and 5.6% the previous month. Core PPI (ex-food, energy, trade) +0.49%MoM vs. 0.3% consensus and +0.26% the previous month. Year-over-year core PPI rose to 5.04% vs. 4.7% consensus.

The September CPI report was hotter than expectations and inflation was broad-based, with headline CPI +0.65%MoM vs. 0.6% consensus, and the year-over-year pace rose +0.3% to 3.7%YoY vs. 3.6% consensus. Core CPI was higher than expected, rising 0.33%MoM vs. +0.2% consensus;  year-over-year accelerated to 2.6%YoY vs. 2.5% consensus, and 2.4% the previous month. Core’s 3-month annualized pace at 3.41%, 6-month annualized pace at 2.85% Core services inflation accelerated to +0.37%MoM; +3.1%YoY; shelter a big driver rising to+0.39%MoM from 0.26% the previous month; airfares remained strong +1.16%MoM Core goods inflation ticked higher to +0.25%MoM in September; +0.7%YoY; used cars and trucks accelerated to +0.67%MoM.

The September ISM services report came in strong and expansionary, with rising employment to address order backlogs, “but the hair on the report,” Mark Kimbrough notes, “is the prices metric pushed up to 74.0, the highest since July 2022.” 👉podcasts.apple.com/us/podcas…

A runaway deficit, a Fed that may have to hike and a president who wants zero rates. Jeffrey Gundlach tells @JuliaLaRoche he doesn't envy Treasury Secretary Bessent.

“If you look at the correlation of Treasury interest rates and – pick your measure – of energy prices, that correlation is at the highest it has been for almost 20 years,” Ryan Kimmel says. youtube.com/watch?v=jnFYAwCX…

“CCC bank loans are trading at a spread of 2050 basis points over the Secured Overnight Financing Rate,” observes Jeff Mayberry. “That’s 20.5% on top of SOFR.” youtube.com/watch?v=jnFYAwCX…