DoubleLine Portfolio Manager Ken Shinoda joins Bloomberg TV to discuss the Federal Reserve’s increasingly constrained position as rising energy prices and persistent inflation complicate the outlook for rate cuts. Mr. Shinoda explains how the recent spike in oil has reduced the likelihood of easing this year, with markets now pricing in fewer cuts as the Fed remains highly data dependent. He highlights how the front end of the Treasury curve reflects this shift and how opportunities may be emerging in the intermediate part of the curve amid a repricing of yields. Mr. Shinoda also addresses market resilience, inflation expectations and the growing impact of AI-driven capital expenditures in credit markets, noting DoubleLine’s cautious approach given limited compensation for risk.
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.
