DoubleLine Portfolio Manager Ken Shinoda joins Bloomberg TV’s “The Close” to break down the state of interest rates, credit and housing following the Federal Reserve’s June 18 meeting, where the federal funds rate was held steady. He shares why he’s neutral on the 10-year U.S. Treasury, cautious on the long end of the Treasury curve due to fiscal risks and sees better value in short-duration, high-quality credit. Mr. Shinoda also discusses the resilience of credit spreads, the lack of real dip-buying opportunities and why he’s staying defensive in securitized markets. On housing, he sees regional softening ahead but no broad collapse, citing strong underwriting practices and limited supply.
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.
