Ken Shinoda, Portfolio Manager at DoubleLine Capital and Chairman of the firm’s Structured Products Committee, takes a look back at May market performance and macro news in what was a good month for bonds and stocks. Mr. Shinoda begins with a look at the rally in U.S. Treasury yields including a breakdown of the different data points that drove rates (1:57). He goes on to review some of the tail risks to the economy (4:18) including labor market pressure complicated by immigration issues (6:59).
Mr. Shinoda concludes the webcast with a look at market performance with a great month for fixed income (8:05), stocks returning to the Land of Gains (10:47), a mixed bag for commodities (12:58) and the U.S. dollar weakening a little bit (13:20). This episode was recorded June 5, 2024.
Mr. Shinoda joined DoubleLine at inception in 2009. He is Chairman of the Structured Products Committee and oversees the non-Agency RMBS team specializing in investing in non-Agency mortgage-backed securities, residential whole loans and other mortgage-related opportunities. Mr. Shinoda is co-Portfolio Manager on the Total Return, Opportunistic Income, Income, Opportunistic MBS and Strategic MBS strategies. He is also lead Portfolio Manager overseeing the Mortgage Opportunities private funds. Mr. Shinoda is also a permanent member of the Fixed Income Asset Allocation Committee, as well as, participating in the Global Asset Allocation Committee. In addition, he hosts DoubleLine’s “Channel 11 News” (Twitter @DLineChannel11, dline11@doubleline.com), a webcast series that provides market insights and commentary with peers and industry experts. Prior to DoubleLine, Mr. Shinoda was Vice President at TCW where he worked in portfolio management and trading. He holds a B.S. in Business Administration from the University of Southern California and is a CFA® charterholder.
