Who’s Afraid of the Inverted Yield Curve? – Allianz – 10.3.18

Summary:

Now On Demand.

As the gap between short and long-term yield remains narrow, there is growing noise about what happens if and when we see an inverted yield curve. Does this mean a recession is on the horizon? Should the Federal Reserve revisit its schedule of rate increases to head this off?

Or, could history be a misguided measure of what a potential inverted yield curve truly means in this uncharted post-quantitative easing market environment.

This webcast will explore:

• Emerging developments shaping the outlook for fixed income markets
• Yield curve tightening: precursor to recession?
• Portfolio implications and actionable fixed income strategies to help asset allocators maximize the opportunity in this unprecedented environment

Speakers:

Mr. Dudnick is a portfolio manager and a director with Allianz Global Investors, which he joined in 2005. He has portfolio-management and research responsibilities for the Short Duration High Income team. Mr. Dudnick has 17 years of investment-industry experience. He was previously a financial advisor at Merrill Lynch, working with both individual and institutional clients. Before that, he worked at Goldman Sachs as a financial analyst in the investment-management division, where he conducted research and executed trades. Mr. Dudnick has a B.B.A. with high distinction in business administration from the University of Michigan Business School. He is a CFA charterholder.

Mr. Malin is a senior investment strategist and a director with Allianz Global Investors, which he joined in 2013. As a member of the Global Economics & Strategy team, he is responsible for making weekly global asset allocation and strategy recommendations; he also briefs clients internationally on the firm’s market outlook. Mr. Malin’s white paper series, Under the Macroscope, has a global following among business, financial, central bank and government leaders. He has 27 years of financial-markets, central-bank and investment-industry experience. Earlier in his career, Mr. Malin was a senior portfolio manager at AllianceBernstein, serving institutional, sub-advisory, Taft-Hartley and private clients throughout North America. He also worked at the Federal Reserve Bank of New York, reporting directly to the Bank’s presidents while serving as vice president in the communications group, corporate secretary and senior economist. Before that, Mr. Malin was the senior economist, founder and director of the regional economics center at The Conference Board; during that time he led a private economics consulting practice that included 25 Fortune 500 companies, trade associations and pension plans. He also served on the National Commission on Competitiveness, National Commission on US-Japan Economic Complementarity, Southern Growth Policies Board Economics Committee and the Corporate Advisory Board to the New York State Assembly Ways & Means Committee. Mr. Malin was an advisor to the Governors of Arkansas, Virginia and Montana on economic development and tourism. He also taught macroeconomics and risk-management courses at Barnard College-Columbia University and the City University of New York. He has a B.A. in economics from Queens College and a Ph.D. in economics from the Graduate Center of the City University of New York.