Luz Padilla, Director of International Fixed Income and Portfolio Manager, and Portfolio Manager Valerie Ho review the state of international fixed income, with a deep dive into the three major factors impacting markets: the lingering impact of the COVID-19 pandemic; the Russia-Ukraine war; and inflation, partially stoked by unprecedented monetary and fiscal policies dealing with the pandemic. Ms. Padilla kicks things off with a look at the pandemic (1:25), including China’s containment struggles (3:24). Next up, she breaks down the fallout from the Russia-Ukraine war (10:31), which she foresees being a protracted conflict. Ms. Padilla’s overview includes the impact of the U.S. and its allies’ Russia sanctions on specific markets (15:16). Ms. Ho concludes with a rundown of the factors contributing to soaring inflation (32:02) as well as the response of some governments to rein in prices (42:37). This webcast was recorded May 10, 2022.
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Ms. Padilla joined DoubleLine in 2009 as the Director of the Emerging Markets Group and is the lead Portfolio Manager. In addition, she is a permanent member of the Fixed Income Asset Allocation Committee. Prior to DoubleLine, Ms. Padilla was a Managing Director at TCW. She began working at TCW in 1994, where she served in a number of roles including Credit Analyst, Director of Research, Co-Portfolio Manager, and lead Portfolio Manager. Ms. Padilla was involved in all aspects of building and managing TCW's Emerging Markets Fixed Income business including credit, securitization, trading and marketing. She holds a BA in Economics from Stanford University in Palo Alto, California and an MBA from the University of California at Berkeley as a fellow of the Robert A. Toigo Foundation.
Ms. Ho joined DoubleLine in 2009 as an Emerging Markets Sovereign Analyst. She is now a Portfolio Manager for the DoubleLine Global Bond strategy covering Latin America and Emerging Asia excluding China. Prior to DoubleLine, Ms. Ho was an Assistant Vice President at TCW, where her responsibilities included analyzing Multi-Asset Fixed Income and CDO investments. Previous to TCW, she worked as a Paraplanner for Ameriprise Financial. Ms. Ho holds a BS in Mathematics/Economics and a Specialization in Computer Programming from the University of California at Los Angeles. She is a CFA® charterholder.