Search
Article
Markets
Dec 2018

Campbell on QE: Welcome to the Hotel California

In their iconic song, “Hotel California,” the Eagles sum up the trap of living to excess with the paradoxical finish: “You can check out any time you like, but you can never leave.” That couplet captures the dilemma facing the G4 central banks. The Federal Reserve (Fed), Bank of England (BOE), European Central Bank (ECB) and Bank of Japan (BOJ) are trying to reverse decade-long “Quantitative Easing” policies which staved off the global credit crisis but, if left too long in place, risk a global currency crisis.

ABOUT THE AUTHOR

ABOUT THE AUTHOR

  • Bill Campbell

    Portfolio Manager
    Global Sovereign Debt

    Bill Campbell

    Portfolio Manager
    Global Sovereign Debt

    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.