CIO Non-traditional Strategies
Mr. Seidner is CIO Non-traditional Strategies and a managing director in the Newport Beach office. He is also a generalist portfolio manager and a member of the Investment Committee. He rejoined PIMCO in November 2014 after serving as head of fixed income at GMO LLC, and previously he was a PIMCO managing director, generalist portfolio manager and member of the Investment Committee until January 2014. Prior to joining PIMCO in 2009, he was a managing director and domestic fixed income portfolio manager at Harvard Management Company. Previously, he was director of active core strategies at Standish Mellon Asset Management and a senior portfolio manager at Fidelity Management and Research. He has 38 years of investment experience and holds an undergraduate degree in economics from Boston College.
Strength in employment and inflation has caused markets to raise the implied terminal rate while still expecting the Fed to normalize policy – which is different from easing – in 2024
How we’re thinking about investing against a backdrop of inflation uncertainty, geopolitical tension, and likely recession.
This year’s surge in yields is restoring value to the bond market, especially with the likelihood of a recession rising, although it remains uncertain when market momentum might turn.
Parsing the yield curve can lead to a variety of conclusions about whether a downturn is coming, while underscoring the importance of flexibility.