For a decade, the government has owned the home loan market in the U.S.

September 6, 2018, marks the 10th anniversary of the U.S. government placing Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs) into conservatorship, where they remain. We expect there will be much commentary in the weeks ahead lamenting the failure to address this state of affairs as the last piece of unfinished business of the financial crisis.

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The Author

Libby Cantrill

Public Policy

Mike Cudzil

Portfolio Manager, Liability-Driven Investment

Daniel H. Hyman

Head of Agency MBS Portfolio Management


Evaluating Advisor Fixed Income Portfolios Amid High Inflation and Rising Rates

A disciplined approach to fixed income investing in the current environment can lead to compelling long-term returns.


All investments contain risk and may lose value. Investors should consult their investment professional prior to making an investment decision.

This material contains the opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world. ©2018, PIMCO.