DoubleLine believes the U.S. dollar peaked in September 2022, as measured by the DXY Index. While we see the disinflation trend continuing, inflation surprises or a flight-to-quality move could cause dollar strength in the near term. DoubleLine would view any near-term strength in the dollar as an entry point to add to a short dollar position via emerging markets (EM) hard currency, EM local currency, non-dollar developed market bonds or foreign exchange (fx) forwards. DoubleLine believes there are a multitude of potential factors that could lead to dollar weakness over the medium term.
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.
