DoubleLine Fund Offerings For A Rising Rate Environment [Slides]

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DoubleLine Fund Offerings For A Rising Rate Environment [Slides]

Slides from the DoubleLine Fund webcast discussing their fund offering for a rising rate environment.

DoubleLine – Time to Pivot

Fed’s Inflation Gauge is Higher

As of October 7, 2016

Sohn Investment Conference 2021 Coverage: Octahedron Capital, Glenernie Capital

2021 Sohn Investment ConferenceThe following is our rough coverage of the 2021 Sohn Investment Conference, which is being held virtually and features Brad Gerstner, Bill Gurley, Octahedron's Ram Parameswaran, Glenernie's Andrew Nunneley, and Lux's Josh Wolfe. Q1 2021 hedge fund letters, conferences and more Keep checking back as we will be updating this post as the conference goes Read More


Source: Bloomberg

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Atlanta Fed Aggregate Wage Growth

As of August 31, 2016

DoubleLine Fund Rising Rate Environment

Source: Bloomberg; DoubleLine

Note: The Atlanta Fed’s Wage Growth Tracker is a measure of the wage growth of individuals. It is constructed using microdata from the Current Population Survey (CPS), and is the median percent change in the hourly wage of individuals observed 12 months apart. Our measure is based on methodology developed by colleagues at the San Francisco Fed.

QE = quantitative easing

Core Inflation and Average Hourly Earnings (YoY)

December 31, 1985 through September 30, 2016

DoubleLine Fund Rising Rate Environment

Source: Bloomberg, DoubleLine

Consumer Price index measures and weighted average of prices for a basket of goods and services, such as transportation, food and medical care.

YoY = year-over-year. You cannot invest directly in an index

Headline Inflation

December 31, 1999 through September 30, 2016

DoubleLine Fund Rising Rate Environment

Source: Bloomberg, DoubleLine

Consumer Price index measures and weighted average of prices for a basket of goods and services, such as transportation, food and medical care. You cannot invest directly in an index.

U.S. Owners Equivalent Rent YoY

  • OER CPI was +3.4% YoY in September and has a 24.3% weight in the CPI basket

DoubleLine Fund Rising Rate Environment

Source: Bloomberg

U.S. PriceStats CPI YoY

October 25, 2012 through October 21, 2016

DoubleLine Fund Rising Rate Environment

CPI = Consumer Price index measures and weighted average of prices for a basket of goods and services, such as transportation, food and medical care. YoY = year-over-year. You cannot invest
directly in an index.

U.S. Producer Prices Trending Higher

As of October 17, 2016

DoubleLine Fund Rising Rate Environment

Source: Deutsche Bank

PPI P

U.S. Breakevens and WTI

October 25, 2013 through October 25, 2016

DoubleLine Fund Rising Rate Environment

Source: Bloomberg, DoubleLine

WTI = West Texas Intermediate

Contribution to U.S. CPI

January 1, 2000 through August 31, 2016

DoubleLine Fund Rising Rate Environment

Source: Minack Advisors

Consumer Price index measures and weighted average of prices for a basket of goods and services, such as transportation, food and medical care. You cannot invest directly in an index.

Core CPI, Unemployment and Fed Funds

The Feds Mandate Achieved? Core CPI, Unemployment Rate and Fed Funds…

DoubleLine Fund Rising Rate Environment

Source: Bloomberg, Data: June 30, 2000 to September 30, 2016

CPI = Consumer Price index measures that examine the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care. You cannot invest directly in an index. NSA = Non-Seasonally Adjusted; YoY = Year-over-Year

See the full slides below.

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