DoubleLine Portfolio Manager Eric Dhall and Analyst Mark Kimbrough recap a pretty positive run for markets for the week of Sept. 8-12, with performance impacted by investors believing a Fed cut is all but assured next week. The tech sector pushed the S&P 500 to more record highs (1:05 ), fixed income was supported by a rally on the long end of the U.S. Treasury curve (3:27 ), and commodities were up on the back of industrial and precious metals (6:06 ).

Over in Macro Land, the BLS released steep prelim benchmark revisions to establishment survey jobs data, but Eric and Mark caution the final numbers could vary (7:57 ); Mark breaks down the deceleration in the PPI print (11:02 ); Eric and Mark look at the most recent CPI print and whether its supportive of a Fed cut (13:43 ); they review job numbers that are supportive of a Fed cut (16:15 ); and they talk about the latest dour outlook in the University of Michigan Consumer Sentiment Survey (17:36 ).

Next week, all eyes will be on Wednesday’s FOMC meeting, with the only real speculation is on whether it will be a 25-bp (most likely) or 50-bp cut and if FOMC nominee Stephen Miran will be approved in time to participate in this meeting.