DoubleLine Deputy CIO Jeffrey Sherman joins Bloomberg TV’s Real Yield as U.S. Treasuries catch a flight-to-quality bid. Mr. Sherman sees an oversold market bouncing but no real change in fundamentals, and DoubleLine stays significantly underweight, if not outright short, the back end of the Treasury curve. The Federal Reserve stance should be tighter than it is, he says, and the Treasury Department’s buyback program has been underwhelming. His advice for the Treasury secretary? “The markets are humbling to all of us.” On the midterms, Mr. Sherman thinks gridlock is good for the deficit, and the risk is a rush to jam policy through reconciliation. He also shares why he thinks foreign demand for Treasuries is fading
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.
