The third quarter of 2026 was characterized by escalating geopolitical tensions, resilient economic growth and a sharp rise in U.S. Treasury yields. The conflict in the Middle East intensified as Iranian proxies expanded efforts to disrupt regional oil exports, contributing to renewed inflation concerns. Meanwhile, strong economic data, continued investment in AI and mounting fiscal concerns placed upward pressure on interest rates. In August, the U.S. Treasury Department announced increased buyback operations for longer-dated securities to take place starting September, although the announcement provided limited relief to Treasury markets as yields reversed the initial reprieve within days.
Mr. Gundlach is CEO of DoubleLine. In 2011, he appeared on the cover of Barron's as "The New Bond King." In 2013, Institutional Investor named him "Money Manager of the Year." In 2012, 2015 and 2016, he was named one of "The Fifty Most Influential" in Bloomberg Markets. In 2017, he was inducted into the FIASI Fixed Income Hall of Fame. Mr. Gundlach is a summa cum laude graduate of Dartmouth College, with degrees in Mathematics and Philosophy.
Jeffrey Sherman, DoubleLine’s Deputy Chief Investment Officer, is a thought leader, portfolio manager and public speaker in the industry. Mr. Sherman is a member of DoubleLine’s Fixed Income and Global Asset Allocation committees, and he serves as lead portfolio manager for the firm’s multi-sector and derivative-based strategies. In his role, Mr. Sherman guides the investment teams in developing top-down macro views and collaborative asset allocation processes throughout a market cycle. Additionally, he is a member of DoubleLine’s Executive Management Committee. In 2018, Money Management Executive named Mr. Sherman as one of “10 Fund Managers to Watch” in its yearly special report. Prior to joining DoubleLine in 2009, Mr. Sherman was a Senior Vice President at TCW, where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios. Prior to that, he was a statistics and mathematics instructor at the University of the Pacific and Florida State University. Mr. Sherman taught Quantitative Methods for Level I candidates in the USC/CFALA CFA® Review Program for many years. He holds a B.S. in Applied Mathematics from the University of the Pacific and an M.S. in Financial Engineering from Claremont Graduate University. Mr. Sherman is a CFA® charterholder.
Mr. Cohen joined DoubleLine in 2012 and serves as Director of Corporate Credit. In this role, he oversees the firm’s corporate credit team and is the lead portfolio manager for investment grade, high yield and leveraged loan credit strategies. Mr. Cohen also developed DoubleLine’s leveraged finance investment platform, which is utilized across closed-end fund, floating-rate, CLO and multi-sector fixed-income strategies. In addition, he is a permanent member of the Fixed Income Asset Allocation Committee. Mr. Cohen has over 30 years of experience in corporate credit investing. Prior to joining DoubleLine, he held investment roles at West Gate Horizons Advisors, ING Capital Advisors, Union Bank and Bank of Montreal. Mr. Cohen holds a B.A. in Economics from the University of Arizona and an MBA from the University of Southern California. He is a CFA® charterholder.
