DoubleLine Investment Management- Fri, 05/08/2026 - 06:33

Tech Dominates Stocks, Treasuries Trade on Oil

DoubleLine Portfolio Manager Jeff Mayberry and Macro Asset Allocation Strategist Ryan Kimmel on May 8 review a stock market (0:39) dominated over the month by a handful of tech giants, a fixed income market (3:32) earning its carry while Treasuries danced to oil’s war tune. Commodities ended the month mixed with energy lower amid gains for industrial and precious metals.

The week’s macro news (7:41) was led by stronger-than-expected nonfarm payrolls in April, with Ryan noting improving breadth in terms of sectors adding vs. detracting jobs as well as more jobs in the cyclically sensitive sectors. On the inflation front, he points out a trend of higher prices paid within the ISM services report for April. Consumer prices, Ryan adds, appear to be outpacing income, as registered in May by the lowest reading on the University of Michigan Consumer Sentiment Index since its inception in January 1978.

For the May 11-15 week, the April CPI report (due Tuesday) and PPI report (due Wednesday) will land on the top of Jeff and Ryan’s desks. They also will be on the lookout for Thursday’s jobless claims report and for retail sales, in particular, the inputs into the consumer spending component of gross domestic product.

The InsuranceAUM.com podcast is available on

Sign Up Now for Full Access to Articles and Podcasts!

Unlock full access to our vast content library by registering as an institutional investor

Contacts

DoubleLine Capital LP

DoubleLine has been managing money for insurers since its inception in 2009. The firm's focus on securitized fixed income and risk management positions it well to manage money for insurers. The firm offers an array of fixed income strategies including dedicated ABS, private ABF, CLOs, infrastructure debt, non-QM, commercial and residential loans, multi-sector fixed income and EM. We understand that the needs of each insurer can vary, and our insurance team is focused on providing our clients with unparalleled access to the investment team and creating custom solutions to meet their distinctive objectives. DoubleLine wants to be your fixed income partner.

Paul Schroeder, CFA
Relationship Manager- Insurance
paul.schroeder@doubleline.com
Direct: 213-372-3123 | Main: 813-791-7333

View the contributor page