DoubleLine Portfolio Manager Ken Shinoda joins 3D/L Financial Group’s Ben Lavine on the Advisor Success Series podcast to discuss the banking crisis and its fallout, particularly the impact on securitized products. Messrs. Shinoda and Lavine talk the banking situation in the U.S. and Europe (3:36), why the situation has flared up now (8:46), a governmental concept of deposit coverage in the U.S. (15:51), what is going on in Europe (18:38) and why policy rates remain tight (22:50).
The latter section of the podcast focuses on the outlook for securitized products (29:18), including talk on the state of office CMBS (34:34), the potential for more credit card and auto loan defaults (40:34) and what happens if primary issuance stops (44:41). This episode was recorded March 24, 2023.
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.
