DoubleLine Sees Emerging-Market ‘Virtuous Loop’ Despite Iran War

A structural convergence between advanced and developing economies is creating “significant” opportunities in emerging markets even as escalating tensions in the Middle East unsettle global investors, according to DoubleLine’s Bill Campbell.

Developing-world markets may be on the cusp of a “virtuous feedback loop,” should the dollar resume its slide and central banks continue rate cuts, said Campbell, who oversees the global sovereign debt team at Jeffrey Gundlach’s firm.