The case from DoubleLine

Jeff Gundlach at DoubleLine often makes the case for US dollar weakness but we rarely get the full fleshed out view. In this recent video, DoubleLine International Fixed Income portfolio manager Bill Campbell fleshes out the case for long-term USD selling. The segment starts at 48:00:

Some key points:

  • US stepping back from role on the world
  • 85% of SWIFT transactions have one side as the US dollar
  • Why should all global trade be priced in dollars
  • Bi-lateral trade will be promoted by technology
  • Central banks will say 'why do I need to hold all these US dollars?