PIMCO Executive: Now Is a Good Time to Buy Municipal Bonds
Pacific Investment Management Company (PIMCO) municipal bond portfolio manager David Hammer believes it is a good time to buy US state and local government bonds, which have declined over the past month, especially long-term bonds. Following the Middle East conflict that pushed up oil prices and triggered inflation concerns, the entire fixed-income market experienced a turbulent period. However, municipal bonds faced particular difficulties, falling 2.3% in March. According to Bloomberg Index data, this was their worst month since 2023, with a larger decline than US Treasuries.
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