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Text on screen: Marc P. Seidner, CIO Non-traditional Strategies
SEIDNER: One of the questions we get probably more often than not is have we missed the opportunity in bonds?
No investors have not missed the opportunity in bonds.
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Our total return strategies had one of their best performance years since the early two thousands. If we go back to that period, we had similar starting yields as today. And there were multiple years of sequential, very strong returns for fixed income.
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So we're quite optimistic about the opportunities in fixed income.
I think this is one of the most interesting, possibly one of the most durable environments for fixed income investing.
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The starting point of yields is quite attractive. The volatility within markets is heightened, which gives the active investor and the active manager a chance to deploy capital, take profits, rotate, redeploy, take more profits
Text on screen: Opportunity to build diversified portfolios with higher quality, liquidity, and yield
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And then we have a chance to build well diversified portfolios, diversified across geographic lines, diversified across sector lines. It's not often that investors get a chance to lock in high levels of yield,
but at the same time increase quality, increase liquidity, and potentially increase their level of expected return.
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Disclosure
All investments contain risk and may lose value. Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and low interest rate environments increase this risk. Reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. Investing in foreign-denominated and/or -domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets.
Statements concerning financial market trends or portfolio strategies are based on current market conditions, which will fluctuate. There is no guarantee that these investment strategies will work under all market conditions or are appropriate for all investors and each investor should evaluate their ability to invest for the long term, especially during periods of downturn in the market. Outlook and strategies are subject to change without notice.
PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America LLC in the United States and throughout the world. Pacific Investment Management Company LLC,650 Newport Center Drive, Newport Beach, CA 92660, 800-387-4626. ©2026, PIMCO. All Rights Reserved.
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