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DoubleLine Paper: Honebuto Shock: Japan Courts a Truss-Like Redux

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TAMPA, Fla., July 20, 2026 /PRNewswire/ — Sell-offs in Japanese Government Bonds (JGBs) and the yen have put Japanese Prime Minister Sanae Takaichi on notice, a DoubleLine paper argues, that Japan’s creditors have little tolerance for her government’s unorthodox proposal for a mixture of unfunded fiscal expansion with docile central-banking. 

Surveying the “Honebuto shock,” so-named after debt-and-yen sell-off following Tokyo’s annual fiscal policy statement, Bill Campbell, head of the DoubleLine’s Global Sovereign & Emerging Markets team, sees parallels to the gilts and British pound revolt over a 2022 proposal for unfunded fiscal expansion by U.K. Prime Minister Liz Truss that swiftly brought down her government.

“Having committed to more than 370 trillion yen of public-private investment through fiscal 2040, the government is calling for monetary policy “in coordination with” that growth agenda,” Mr. Campbell writes. “In the eyes of the financial markets, this demand for the subordination of monetary policy to a political platform only adds fuel to the fire beneath a central bank already under criticism for what critics deem an overly cautious rate-hiking path.”

Mr. Campbell warns, “The Takaichi government should not assume the JGB market, having found its voice, will prove more patient than the gilts market that laid low the Truss government in 2022. In today’s inflationary climate, fiscal credibility is earned, not presumed – even in the G-7 countries. And a G-7 sovereign who embarks on unfunded fiscal expansion risks courting a buyers’ strike.”

The paper, titled “Honebuto Shock: Japan Courts a Truss-Like Redux,” is available here: https://doubleline.com/wp-content/uploads/DoubleLine_Honebuto-Truss-Redux_Campbell_071526.pdf

Mr. Campbell heads the Global Sovereign & Emerging Markets team at DoubleLine and serves as the lead Portfolio Manager for emerging markets and international fixed-income strategies. He is a permanent member of the firm’s Fixed Income Asset Allocation Committee. Mr. Campbell has written extensively in research papers and client briefings on evolving trends and episodic developments in global fixed income and currency markets. He holds a B.S. in Business Economics and International Business, as well as a B.A. in English, from Pennsylvania State University and an M.A. in Mathematics, with a focus on Mathematical Finance, from Boston University.

About the Global Sovereign & Emerging Markets Team

The Global Sovereign & Emerging Markets team at DoubleLine manages $XX billion in assets in sovereign debt, including U.S. Treasuries and non-U.S. sovereign issues, and corporate fixed income securities by issuers domiciled in ex-U.S. developed and emerging markets. The team comprises 14 investment professionals, including portfolio managers, analysts and traders.

About DoubleLine

DoubleLine Capital LP is an investment adviser registered under the Investment Advisers Act of 1940. DoubleLine’s offices can be reached by telephone at (813) 791-7333 or by email at info@doubleline.com. In addition to its headquarters in Tampa, Fla., and an office in Los Angeles, DoubleLine has offices in Dubai, London and Tokyo. Media can reach DoubleLine by email at media@doubleline.com.

DoubleLine® is a registered trademark of DoubleLine Capital LP. 

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Real-World Study of Over 185,000 Users Finds Engagement with UpLife Digital Mental Health App Yields Significant Reductions in Depression and Anxiety

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Five-year evaluation shows a clear “dose–response” link between deeper engagement with UpLife’s CBT-based ‘Journeys’ programs and greater depression and anxiety symptom improvement

LEESBURG, Va., July 21, 2026 /PRNewswire-PRWeb/ — UpLife Inc, a digital mental health and self-therapy platform, today announced a set of research findings from a large real-world evaluation of its app, showing that people who engaged with the platform reported statistically significant reductions in symptoms of depression and anxiety over time. The evaluation drew on five years of real-world data from an engaged user base of more than 185,000 people across the United States and 197 other countries worldwide.

“These results reflect what we hear from users every day, now backed by data at real-world scale. What stands out is the dose–response signal where the people who lean into the work by completing their Journeys and doing the exercises are the ones who get the most out of it.” Jeff Musa, CEO, UpLife

The research analysis examined anonymized data collected between 2021 and 2026 using three validated clinical outcome measures: the PHQ-9 (depression), the GAD-7 (anxiety), and the WHO-5 (well-being). Among UpLife users who completed assessments at baseline and follow-up, depression and anxiety scores decreased significantly over time.

In the fully adjusted analysis, average depression scores (PHQ-9) fell by approximately 3.7 points; moving the typical UpLife user from the “moderately severe” range toward the “moderate” range. Anxiety scores (GAD-7) showed comparable significant reductions over time.

A clear dose–response relationship

One of the study’s central findings was a consistent dose–response pattern regarding the relationship between engagement and outcomes. Users who completed UpLife’s CBT-based ‘Journeys’ experienced a reduction in their symptoms. The study also found that the completion of additional Journeys were associated with a further measurable decrease in their assessment scores, even after accounting for subscription type and other factors. Notably, depth of engagement with therapeutic content was a stronger predictor of improvement than simply the amount of time spent in the app.

“These results reflect what we hear from users every day, now backed by data at real-world scale. What stands out most is the dose–response signal where the people who lean into the work by completing their Journeys and doing the exercises are the ones who get the most out of it. That tells us our job is to keep building an experience that helps people stay engaged, because engagement is where the clinical value lives.” — Jeff Musa, Chief Executive Officer, UpLife

Built on cognitive behavioral therapy

UpLife delivers evidence-based psychological education and interventions grounded in the principles of cognitive behavioral therapy (CBT) through five core features: structured Journeys, a Daily Plan, a Mood Tracker, journaling, and an AI assistant (“Lila”) that recommends relevant content from the platform. The app does not provide AI-generated therapy; its assistant only directs users to content that has been created, curated, and reviewed by clinicians.

For clinicians, UpLife also offers a HIPAA-compliant therapist portal that supports a Blended Care model, allowing providers to extend therapeutic support between sessions through structured digital programs, progress tracking, and shared assessments.

The platform has also been extensively used in humanitarian settings. Through UpLife’s Ukraine Humanitarian Gift Program, tens of thousands of users in Ukraine have received full, free access to a localized version of the app through UpLife’s Ukraine Humanitarian Gift Program.

About the evaluation

The study used an observational pre–post design based on real-world data and was conducted in accordance with the ethical principles of the Declaration of Helsinki. As an observational evaluation without a control group, it demonstrates associations between app engagement and symptom improvement rather than establishing causation, and well-being scores (WHO-5) did not change significantly over the study period. The findings add to a growing body of research suggesting that CBT-based digital interventions can be associated with meaningful symptom reduction, while underscoring the central role of sustained user engagement.

About UpLife

Founded in 2019, UpLife is a digital mental health and self-guided therapy platform that is designed to help people improve their emotional well-being, build healthier thinking patterns, and develop positive daily habits through structured, evidence-based psychological programs. UpLife also provides a secure, HIPAA-compliant portal to help therapists and health systems to extend care beyond the through a Blended Care Therapy model. Learn more at www.uplifecare.com.

Media Contact

Matt Landry, UpLife, 1 617-699-7205, matt@thesecondrow.net, https://www.uplifecare.com/ 

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SOURCE UpLife

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TruHeight Joins Nordstrom and JCPenney Marketplaces as Wellness Brands Reshape the Department Store

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Family nutrition brand’s newest retail partnerships reflect a broader shift: health and wellness products are becoming a staple of platforms once reserved for fashion and apparel

LAS VEGAS, July 21, 2026 /PRNewswire/ — TruHeight, the family nutrition brand, today announced it is joining the Nordstrom Marketplace and the JCPenney Marketplace, bringing its lineup of clean-label vitamins, gummies, protein shakes, and everyday nutrition products to two of America’s most iconic department store names.

The partnerships place TruHeight at the center of one of retail’s most notable shifts. Department stores and fashion-first marketplaces, long defined by clothing, shoes, and accessories, are rapidly expanding into health and wellness as consumers increasingly treat wellness as part of their everyday lifestyle rather than a separate shopping trip. For a generation of shoppers, the same platforms where they buy back-to-school outfits and activewear are becoming destinations for the products that fuel those activities.

“Five years ago, you wouldn’t expect to find a family nutrition brand next to denim and sneakers,” said Justin Rapoport, Co-CEO of TruHeight. “Today, wellness is part of how families shop for everything. Nordstrom and JCPenney recognize that, and we’re proud to bring family nutrition to their marketplaces.”

The move extends a period of rapid retail growth for TruHeight, which launched in 5,000 CVS stores nationwide in June following its national debut at Target earlier this year, and is also available at iHerb and on Amazon. With the addition of Nordstrom and JCPenney, TruHeight’s products will reach shoppers across drug, mass, e-commerce, and department store channels.

“Every retailer we add is a signal of the trust families place in our brand,” said Eden Stelmach, Co-Founder of TruHeight. “Department stores are where families have shopped together for generations. Meeting them there with simple, clean nutrition products is a natural next step.”

TruHeight products will be available on the Nordstrom and JCPenney marketplaces in the coming weeks, joining the brand’s existing availability at CVS, Target, iHerb, Amazon, and truheightvitamins.com.

About TruHeight
TruHeight is a family nutrition brand offering clean-label vitamins, gummies, protein shakes, and everyday nutrition products for kids, teens, and active families. Founded with a commitment to simple ingredients and convenient formats, TruHeight products are available at major retailers nationwide and online at truheightvitamins.com.

Media Contact
TruHeight Vitamins
Kim Brown
419189@email4pr.com
4704265920
truheightvitamins.com

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TrendyMinds Founder Trevor Yager Returns as CEO to Lead Agency’s Next Phase of Growth

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Veteran agency leader returns to accelerate TrendyMinds’ AI capabilities and advance the firm’s evolution as a strategic partner helping organizations drive growth, strengthen reputation, and navigate transformation.

INDIANAPOLIS, July 21, 2026 /PRNewswire/ — Trevor Yager has returned as Chief Executive Officer (CEO) of TrendyMinds, the Indianapolis-based agency he founded in 1995, while continuing to serve as Chairman. In this dual role, Yager has resumed direct involvement in day-to-day leadership, working alongside account and delivery teams on client work in addition to setting the agency’s strategic direction. As CEO, he is leading the company’s next phase of growth by advancing the firm’s artificial intelligence (AI) capabilities while strengthening its position as a strategic partner to organizations navigating growth and change.

Yager previously transitioned from CEO to Chairman as part of a planned leadership evolution that reflected both the agency’s maturity and his own exploration of future ownership opportunities. As AI has accelerated the pace of change across the industry, reshaping how organizations operate and compete, he made the decision to step back into the CEO role and lead TrendyMinds through its next chapter directly.

“Moving into the Chairman role was the right decision at the time because the Board, including myself, believed TrendyMinds needed to demonstrate it could thrive beyond its founder,” said Yager. “But after more than 30 years of leading through every major technology shift, I believe artificial intelligence represents one of the greatest opportunities our industry has ever seen. The environment shifted fast enough that it made sense for me to step back in and lead it personally, continuing to build the capabilities our clients will need and position the agency for what’s next.”

Beginning in 2019, TrendyMinds became increasingly intentional about optimizing the artificial intelligence, machine learning, and automation capabilities already embedded within the technologies used across the agency. Following a comprehensive assessment of AI-enabled tools and workflows, the agency integrated AI across strategy, research, creative development, marketing operations, and internal business processes while establishing governance, security, and data protection standards to support responsible implementation.

By transforming its own business first, TrendyMinds refined its methodologies, validated new approaches, and built the operational discipline that now informs how it evaluates AI opportunities with clients. Today, TrendyMinds continues to expand its internal AI capabilities through a dedicated team of AI transformation specialists, developing proprietary workflows, audience intelligence tools, and implementation frameworks. Drawing on that experience, the agency helps clients responsibly evaluate and implement AI in ways that align with their business objectives, regulatory requirements, and governance standards.

That experience also enables TrendyMinds to support clients developing innovative AI technologies, including a leading healthcare AI innovator. By combining firsthand AI transformation experience with strategic consulting, communications, and market positioning expertise, the agency helps organizations communicate complex technologies, build trust with stakeholders, and accelerate market adoption.

Founded as a traditional marketing agency more than 30 years ago, TrendyMinds has continually evolved alongside the changing needs of its clients, bringing together strategic consulting, integrated marketing, communications, creative, thought leadership, media relations, digital strategy and development, research, analytics, and emerging technologies.

About TrendyMinds

TrendyMinds is the Agency of Preference®, a multidisciplinary consulting partner helping organizations accelerate growth, strengthen and protect reputation, and navigate transformation. Founded in Indianapolis in 1995, the firm has spent more than 30 years uniting strategic consulting, communications, marketing, creative, technology, and data-driven insight into a single integrated practice built to solve complex business challenges.

Learn more at TrendyMinds.com.

Media Contact:
Claire Gregory
419095@email4pr.com | 317.902.6973

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