Bill Campbell: Emerging Markets Held in Remarkably Well | Bloomberg

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DoubleLine’s Bill Campbell, head of the global sovereign and emerging markets team, joins Bloomberg’s The Close to discuss questions about the AI buildout and its impact on the credit market. Mr. Campbell notes the problem is the underwriting assumptions baked into projected earnings, and he points out the factors creating a circular logic that could turn into a cyclical headwind for risk markets. After the recent hot CPI print that sent yields up and then right back down, he says that stocks and bonds behaved the way a risk parity portfolio would expect: “Fixed income is doing what it should be doing in your portfolio.”

With yields where they are, Mr. Campbell says the value proposition for fixed income is “probably the highest it’s been in recent memory.” DoubleLine is focused on higher-quality credit and the belly of the U.S. Treasury curve, where investors can collect a healthy coupon and still benefit if yields rally. He also still sees value in emerging markets local debt, which held up remarkably well during the recent sell-off.

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DoubleLine Capital LP

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DoubleLine has been managing money for insurers since its inception in 2009. The firm's focus on securitized fixed income and risk management positions it well to manage money for insurers. The firm offers an array of fixed income strategies including dedicated ABS, private ABF, CLOs, infrastructure debt, non-QM, commercial and residential loans, multi-sector fixed income and EM. We understand that the needs of each insurer can vary, and our insurance team is focused on providing our clients with unparalleled access to the investment team and creating custom solutions to meet their distinctive objectives. DoubleLine wants to be your fixed income partner.
 

Paul Schroeder, CFA   
Relationship Manager- Insurance  
paul.schroeder@doubleline.com
Direct: 213-372-3123
Main: 813-791-7333
 

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