DoubleLine Global Bond Portfolio Manager Bill Campbell discusses the possibly long-term structural decline of the U.S. dollar, shifting dynamics in global capital flows and implications for U.S. Treasury yields. In an interview with Bloomberg’s Romaine Bostick and Alix Steel, recorded June 12, 2025, Mr. Campbell outlines why foreign investors are increasingly hedging U.S. exposure, how central banks’ retreat from bond markets is reshaping term premiums and what this means for global fixed-income strategies. He also shares his top investment ideas, including positioning in the belly of interest rates, increasing international exposure and maintaining a focus on high-quality credit.
Mr. Campbell joined DoubleLine in 2013. He oversees the firm’s Global Sovereign Debt team and serves as a Portfolio Manager of the DoubleLine Emerging Markets Local Currency and Global Bond strategies. He is a permanent member of the Fixed Income Asset Allocation Committee. Prior to DoubleLine, Mr. Campbell worked for Peridiem Global Investors as a Global Fixed Income Research Analyst and Portfolio Manager. Prior to that, he was with Nuveen Investment Management Co., first as a Quantitative Analyst in the Risk Management and Portfolio Construction Group then as a Vice President in the Taxable Fixed Income Group. Mr. Campbell also worked at John Hancock Financial as an Investment Analyst. He holds a B.S. in Business Economics and International Business, as well as a B.A. in English, from Pennsylvania State University. Mr. Campbell holds an M.A. in Mathematics, with a focus on Mathematical Finance, from Boston University.
