DoubleLine's Robert Cohen joins Bloomberg's @kgreifeld and @RomaineBostick to share a timely perspective on AI financing and what history tells us about where we are in the cycle.

“This month, consumer sentiment ticked up about four index points, or 9%, with consumers experiencing some relief due to the early-month easing in gasoline prices. This measured improvement in sentiment was widespread, seen across age, education, and political party. Lower-income consumers exhibited a particularly strong sentiment increase, consistent with the fact that gasoline comprises a larger share of their budgets.” – U.Mich.

The Bloomberg Labor Market Surprise Index has flipped positive and the 2-year yield has followed it higher, notable because strong payrolls carry far more policy weight when labor force growth remains constrained. doubleline.com/markets-insig…

The May CPI report was in line with expectations, with headline CPI rising 0.47%MoM vs. 0.5% consensus, and the year-over-year pace rose to 4.2%YoY vs. 4.2% consensus, the highest pace since April 2023. Core CPI came in slightly softer than expected 0.21%MoM vs. 0.3% consensus;  year-over-year rose to 2.9%YoY vs. 2.9% consensus, the highest since September 2025. Core goods inflation -0.11%MoM in May; 1.06%YoY; there were declines in new cars, medical care commodities, recreational commodities, education and communication commodities, and household furnishings and supplies. Core services inflation decelerated to 0.30%MoM in May; 3.4%YoY; shelter normalized to 0.31%MoM; 3.4%YoY; airfares 2.7%MoM

DoubleLine's Robert Cohen joins Bloomberg's @kgreifeld and @RomaineBostick to share a timely perspective on AI financing and what history tells us about where we are in the cycle.

Record equity prices and historically weak consumer sentiment are not in contradiction but are instead two readings of the same K-shaped economy, where asset ownership determines whether inflation's aftermath feels like a windfall or a wall. linkedin.com/pulse/record-hi…

While the FOMC is expected to stand pat on the fed funds rate June 17, Jeff and Mark wonder if Kevin Warsh’s first chairmanship of the committee will mark the end of the its dot-plot survey of members’ outlooks for future rate levels. podcasts.apple.com/us/podcas…

Although fed funds futures are pricing in a rate hike by year-end, DoubleLine Portfolio Manager Jeff Mayberry doubts the current economic picture suffices to dent Warsh’s relative dovishness. podcasts.apple.com/us/podcas…

“We’re through the vast majority of earnings season,” DoubleLine Analyst Mark Kimbrough notes. “So the markets are trading on macro data and geopolitical headlines.” podcasts.apple.com/us/podcas…

Announced job cuts rose 14KMoM to 97K in May on a seasonally adjusted basis, based on the report from Challenger, Gray and Christmas. The total number of layoff announcements in the first five months of 2026 was 43% lower than in 2025.

The headline JOLTS job openings data for April came in stronger than expectations. Job openings 7.62m vs. 6.87m consensus and 6.89m the previous month (revised up from 6.87m). This brought the job openings rate to 4.6%, the highest level since May 2024. The largest gains in openings were in the professional/business services sector. The hiring rate declined 0.3% to 3.2%, well below the 2017-2019 average of 3.8%. The layoff rate dropped 0.1% to 1.1% and the quits rate ticked lower to 1.9%. The labor market continues to exhibit a “low hire low fire” dynamic.

AI's leverage is settling into concrete and copper, not just cap tables. doubleline.com/markets-insig…

“All these IPOs are planned for the next six months – OpenAI, Anthropic, SpaceX,” says Eric Dhall. “They’re all trying to rush to market while the animal spirits are abounding, and irrational exuberance is pressing any skepticism away.” podcasts.apple.com/us/podcas…

Despite easing from mid-month, Treasury yields “remain elevated vs. the beginning of the month,” Eric Dhall observes. “There’s still a term premium there; investors are still concerned about inflation and budget deficits.” 👉podcasts.apple.com/us/podcas…

Rooting for peace but keeping it real: “The U.S. is negotiating with some more moderate people in Iran,” Eric Dhall says, “but the guys with the guns don’t necessarily agree with those moderates.” podcasts.apple.com/us/podcas…

Olive Oyl-skinny market leadership: “With the S&P 500 trading 7% above its 50-day moving average,” Ryan Kimmel notes, “only 56% of stocks in the index are trading above their 50-day. This rally is driven by a select few large stocks.” 👉podcasts.apple.com/us/podcas…

Amid the ping pong of headlines over the U.S.-Iran conflict, a thin leadership of tech giants in May, @DLineCap's Eric Dhall and Ryan Kimmel note, drove the S&P 500 into new highs while bond yields eased, albeit to still elevated levels. podcasts.apple.com/us/podcas…

The PCE deflator for April was softer than expectations, 0.40%MoM vs. 0.5% consensus and 0.66% in March. The year-over-year pace rose to 3.8%, the fastest pace since May 2023. Core PCE, 0.24%MoM vs. 0.3% consensus and 0.30% in March. Year-over-year core PCE increased 0.1% to 3.3%, the fastest rate since Nov 2023. Core services PCE decelerated to 0.19%MoM. Core services ex housing (supercore) decelerated to 0.12%MoM.

Personal income was flat April vs. expectations of 0.4%MoM; wage income increased 0.2%MoM. On a year-over-year basis, real wages & salaries growth turned negative at -0.2% and real disposable personal income -1.1%.