Portfolio Manager, Generalist
Mr. Seshasayee is an executive vice president and generalist portfolio manager in the New York office, leading Canadian portfolio management. He is a member of PIMCO’s Americas portfolio committee. Previously, he was a portfolio manager on the MBS and investment grade credit desks and a member of PIMCO’s diversified income portfolio management team. Prior to joining PIMCO in 2013, he was a member of the fixed income research group at Morgan Stanley. He is currently a member of the Canadian Fixed-Income Forum (CFIF), a group set up by the Bank of Canada to share bond market information between market participants and the central bank. He has 14 years of investment experience and holds an MBA from the University of Chicago Booth School of Business. He received an undergraduate degree from the Indian Institute of Technology, Mumbai.
We believe Canada’s banking sector is more insulated from some of the issues facing the U.S. banking system, and as a result, credit conditions in Canada may tighten less than in the U.S.
On the surface, Canada housing prices seem bubbly, but a closer look shows secular fundamental trends are driving most of the appreciation.
Amid a brightening economic outlook, the Bank of Canada could begin tapering its bond purchase program this month, though we think it’s a close call and believe a cautious approach is warranted.