Equities Tricky, Fixed Income Treats During Busy Fed Week

DoubleLine portfolio manager Eric Dhall and allocation strategist Ryan Kimmel recap the market week of Oct. 26-30, covering equity dispersion tied to earnings and AI buildout concerns, fixed income turning positive across the board, and a volatile stretch in commodities. The macro segment centers on the penultimate FOMC meeting of the year, where rates were held steady and the Fed chairman discussed the agency's brief. The episode also reviews sticky PCE inflation, a robust advance estimate for third-quarter GDP, and looks ahead to possible midterm election results and new labor data.

1. Equities were mixed as earnings and AI buildout concerns drove dispersion; fixed income assets were green across the board.
2. Commodities had a volatile run during the week.
3. The penultimate FOMC meeting of the year left rates unchanged, and the Fed chairman spoke about the agency's brief.
4. The week brought a sticky PCE inflation print and a robust advance estimate of third-quarter GDP; the coming week may bring midterm results and labor data.