Contrary to its reputation for aggressively accommodative monetary policy, the impact of the Bank of Japan's policies has been a “stealth tightening,” DoubleLine Global Bond Strategy Portfolio Manager Bill Campbell writes. The result, Mr. Campbell warns, is a sell-down of Japan’s massive, invested savings in foreign financial assets, compounding the drain of global liquidity under quantitative tightening (QT) by the world’s central banks.
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.