DoubleLine Portfolio Manager Jeff Mayberry and Fixed Income Asset Allocation Strategist Ryan Kimmel recap the markets for the week of April 21-25, noting how the post-April 2 volatility has made it seem like a very long month. Equities (0:53) were up on the week, with the trade stories of 2024 on growth, value and tech putting in an appearance. The bond market (2:21) had a pretty quiet week while the Agg continued to have a pretty good run in the new year. Commodities (3:33) were flat. Jeff and Ryan note that the markets seemed to dodge another volatile week after President Donald Trump walked back his calls for removal of the Fed chair. Over in Macro Land (7:54), they look at mixed April prelim manufacturing and services PMI numbers, consistent initial jobless claims and a consumer sentiment score that is usually only seen in crises. The week in Fedspeak (15:48) had a pair of Fed governors each addressing a side of the agency’s inflation-employment mandate. Next week (18:34) will bring prints including JOLTS numbers, a Q1 GDP estimate (very low) and inflation data.