Mr. Cudzil is a managing director and generalist portfolio manager based in the Newport Beach office. He is a rotating member of the PIMCO Investment Committee and co-chair of the Americas portfolio committee. As a portfolio manager across multi-sector fixed income mandates, Mr. Cudzil also serves as a senior member of the Total Return portfolio management team, co-lead of the liability-driven investment portfolio management team, and co-lead of the agency MBS portfolio management team. Mr. Cudzil is also a member of the steering committee for PIMCO Families, a resource group dedicated to supporting employees in their efforts to successfully manage career and family. Prior to joining PIMCO in 2012, he worked as a managing director and head of pass-through trading at Nomura. Mr. Cudzil previously held similar roles at Bank of America and Lehman Brothers, as well as a senior trading position at Salomon Brothers. He has 27 years of investment experience and holds a bachelor's degree in political science from the University of Pennsylvania.
The spike in bond yields presents an opportunity for fixed income investors to earn capital gains and diversify portfolios.
Economic and Market Commentary
Despite inflation trending lower, bond yields have risen higher. Mike Cudzil, portfolio manager, explains the reasons behind the surge and why we think fixed income is particularly attractive right now.
Mike Cudzil, portfolio manager, fixed income, and Jason Steiner, portfolio manager, alternative credit, discuss the current real estate landscape, what opportunities exist in real estate, and why PIMCO is well-positioned to respond quickly to these opportunities.
The sovereign credit rating cut is unlikely to significantly change views toward U.S. Treasuries, but questions about debt sustainability may grow louder over time.
As investors seek to pinpoint market expectations for Federal Reserve policy, it’s critical to consider not just rate projections and derivatives pricing, but the degree of uncertainty and distribution of outcomes.