DoubleLine Deputy CIO Jeffrey Sherman joins CNBC to break down the bond market’s latest moves, noting why the Federal Reserve should look past oil-driven inflation and stay focused on labor market conditions. Mr. Sherman pushes back on calls for aggressive federal funds rate cuts and addresses growing concerns around foreign ownership of U.S. Treasuries hitting 1997 lows. He also discusses the possibility of overseas selling as a geopolitical signal and the ongoing disruption to oil and LNG supply chains by the Middle East conflict. Mr. Sherman closes by sharing DoubleLine positioning, with a focus on the five-to-10-year part of the Treasury curve amid rising uncertainty in commodity markets.
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.
