on the phone, double line deputy cio jeffrey sherman. welcome, good to hear from you. >> thanks for having me. >> delighted to have you is your call on commodities an economic growth call or an inflation call or both. >> it's both what you've seen is that everybody's been talking about the narrative going around is there's coordinating global economic growth in terms of gdp expansion in the emerging economy and you started to see signs of inflation not only did we get a surprise uptick in the cpi trend earlier this week but if you look at ppi final demand that came out today you have above expectation and that producer price index versus the consumer price index tends to lead as does the cost of final goods going on so you're seeing it on both fronts, not just the economic side but also a piece of the inflationary story coming there and not to mention also commodity prices are not at their elevated levels that they were a couple years ago. >> and the commodities boomed a couple of years ago. in your fund which had a good growth, double s

joining me to talk about that and the broode broader markets s jeffrey sherman at double line.hanks for joining us this morning. >> thanks for having me. >> maria: when you see this market falling out of bed here over the worries about inflation, we're seeing wages up 2.9%, oil getting all the way up recently to, what, like close to 65 or so. i know we're seeing a decline there as well. your take on what's going on in public markets this morning? >> well, the oil market definitely started off the year with a bang, up almost 8 or 9% early in january, the mid part of january. and what you've seen recently is there was a lot of net length exposure in the futures market. that's the way speculators and investors express positions within the oil market and we got cftb data yesterday that came through and so there was a big unwind of some of those position as well. we were having record length in there as people were very bullish of the crude story and a little bit of a natural repricing here as some vint f is step away. there are some supply issues. we had record production reported