David Hammer
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PIMCO’s Head of Municipal Bonds Dave Hammer wants taxable investors to pay attention to muni market opportunities in today’s market. With rates at attractive levels, continuing strong credit quality, and seasonal factors affecting bond prices, he is excited about what’s ahead for investors. He discusses the broadening menu of municipal investing, which includes more and more privately-arranged debt in bespoke situations, as well as how thorough credit research and patient sector allocation drive results over the long term. In a world characterized by macro and geopolitical volatility, the muni markets offer a more local solution for investors looking to compound on a tax-efficient basis.
Higher rates have strengthened return potential for tax exempt municipals, while widening differences in credit quality are strengthening the case for active management.
Record municipal bond issuance created significant headwinds in the first half of 2025, but what’s next for muni bonds as attractive tax-adjusted yields remain?
A historic sell-off enhances value, with high yields, strong fundamentals, and ample reserves mitigating policy risks.
Join David Hammer, Head of Municipal Bond Management, and Account Manager Antonese Robertson as they discuss the recent action-packed week for municipal investors. Despite speculation, they share their bullish outlook on the asset class and its tax-exempt status.
Explore the five key reasons PIMCO stands out in the world of tax efficient Separately Managed Accounts (SMAs), including our commitment to client service, the scale of our operations, and the depth of our investment expertise, all designed to help you better serve your sophisticated clients.