May 5, 2020 / 10:26 PM / 19 days ago

DoubleLine Capital's Sherman says markets are a bit too optimistic

NEW YORK, May 5 (Reuters) - Markets are being a bit optimistic in expecting a quick recovery from the economic hit from the coronavirus outbreak and the resultant voluntary shutdowns, DoubleLine Capital deputy chief investment officer Jeffrey Sherman said on Tuesday.

“When you have one of the worst shutdowns ever ... and expect a V-shaped recovery or even a U-shaped recovery, it seems overly optimistic,” Sherman said, speaking on an investor webcast.

“I don’t think we are getting back to December 2019 level GDP and the economy for at least another 24 months or so. It’s going to take time,” Sherman said.

DoubleLine had about $148 billion in assets as of Dec. 31. (Reporting by Saqib Iqbal Ahmed Editing by Chris Reese)

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