Jeffrey Sherman, Deputy Chief Investment Officer at DoubleLine, following Fed Day and the FOMC statement emphasizes the importance of consumer spending and suggests the Fed maintains its position due to a stable economy. On bond market strategies, he anticipates yield increases, suggesting a diversified portfolio with selective credit exposure to earn carry and benefit from potential bond rallies. Staying flexible helps investors aim for consistent returns amidst yield fluctuations.
Sherman addresses excess savings' impact on lower-income groups, attributing financial stress to cumulative inflation effects. Despite acknowledging challenges faced by specific cohorts, he remains optimistic about survival rates tied to labor market performance. The upcoming jobs report is crucial for understanding underlying economic trends. Discussing currency markets, he mentions recent Japanese yen interventions by the Bank of Japan, cautioning against fighting central banks' actions due to their significant influence.
Mr. Sherman suggests a prudent approach of strategic diversification and opportunistic positioning to navigate market conditions effectively, emphasizing the importance of flexibility and a keen awareness of economic indicators for sound investment decisions.
As DoubleLine’s Deputy Chief Investment Officer, Jeffrey Sherman oversees and administers DoubleLine’s Investment Management sub-committee coordinating and implementing policies and processes across the investment teams. He also serves as lead portfolio manager for multi-sector and derivative-based strategies. Mr. Sherman is a member of DoubleLine’s Executive Management and Fixed Income Asset Allocation Committees. He can be heard regularly on his podcast “The Sherman Show” (Twitter @ShermanShowPod, ShermanShow@Doubleline.com) where he interviews distinguished guests, giving listeners insight into DoubleLine’s current views. In 2018, Money Management Executive named Jeffrey 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. He was a statistics and mathematics instructor at both the University of the Pacific and Florida State University. Mr. Sherman taught Quantitative Methods for Level I candidates in the CFA LA/USC 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 the Claremont Graduate University. Mr. Sherman is a CFA® charterholder.
