Mr. Lazarus is a senior vice president and strategist, focusing on closed-end and interval funds as well as mortgage strategies. Prior to joining PIMCO in 2019, he was a fixed income product manager at Voya Investment Management. Earlier in his career, he worked at Guggenheim Investments. He has 14 years of investment experience and holds an undergraduate degree from Duke University.
We expect further weakening in U.S. home prices, although not a sharp decline, as higher mortgage rates pressure affordability and induce many homeowners not to move.