Fed Flusters Markets, DeepSeek Daunts Tech (E200)

DoubleLine Portfolio Manager Eric Dhall and Fixed Income Asset Allocation Strategist Ryan Kimmel dissect the week of Jan. 27-31, 2025. The week saw the S&P 500 (0:33) suffer a tech selloff, bond prices (4:30) tick higher and commodities (5:26) lower with precious metals moving higher. The week’s macro news (6:30) was dominated by the Federal Reserve, whose hawkish-seeming policy guidance, followed by softer language during Fed Chair Powell’s news conference, whipsawed markets. Macro prints (9:31) on durable goods, GDP and jobless class were nonevents, but softish readings Friday on the Personal Consumption Expenditures index and the Employment Cost Index, Eric and Ryan noted, give some comfort to the Fed. Looking ahead to the week of Feb. 3-7, Eric and Ryan will have nonfarm payrolls due Friday at the top of their watch list.