As Mr. Donald Trump’s victory became clearer leading up to and following Election Day, U.S. stocks reached all-time highs, the U.S. dollar strengthened, U.S. Treasury yields rose, and credit spreads tightened.
DoubleLine CEO/CIO called the election “consequential” and “thinks it is right to see the Trump victory as reducing the odds for near-term recession”. However, Mr. Gundlach “does not like the way [fiscal expansion] it is going to be accomplished because that will lead to the problem in long-term bonds.”
While the new Administration will likely implement a pro-growth agenda via expansionary fiscal policy, largely via tax cuts and deregulation, economic and financial impacts require close monitoring for adverse reactions to all of the expected policy changes.
Mr. Campbell joined DoubleLine in 2013. He is a Portfolio Manager for the DoubleLine Global Bond Strategy and is a permanent member of the Fixed Income Asset Allocation Committee. He covers Developed Markets, Central & Eastern Europe, Middle East and Africa (CEEMEA), and China. Prior to DoubleLine, Mr. Campbell worked for Peridiem Global Investors as a Global Fixed Income Research Analyst and Portfolio Manager. Previous to that, he was with Nuveen Investment Management Company, first as a Quantitative Analyst in their Risk Management and Portfolio Construction Group, then as a Vice President in their Taxable Fixed Income Group. Mr. Campbell also worked at John Hancock Financial as an Investment Analyst. He holds a BS in Business Economics and International Business, as well as a BA in English, from Pennsylvania State University. Mr. Campbell holds an MA in Mathematics, with a focus on Mathematical Finance, from Boston University.
