Domestic Fixed Income’s Attractiveness Amid Global Negative Yields – Allianz Global Investors – 9.25.19

Summary:

Now On Demand.

With over $15 trillion in government bonds currently trading with negative yields globally, foreign investors seeking income are increasingly turning to the US, where rates have remained relatively attractive and currency hedging costs are declining. This dynamic has recently sparked an influx of capital into US fixed-income markets, and we believe it represents an attractive opportunity for fixed income investors.

Join us as we explore the current state of fixed income markets, interest rates and their global implications, including:

• The relative attractiveness of US fixed income compared with other regions.
• Why shorter duration fixed income – contrary to popular belief – may be well-positioned to benefit if rates continue trending lower.
• Our outlook on interest rates and how to navigate the current 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. Dwane is a portfolio manager, a managing director and the Global Strategist with Allianz Global Investors, which he joined in 2001. He coordinates and chairs the Global Policy Committee, which formulates the firm’s house view, leads the firm’s bi-annual Investment Forums and communicates the firm’s investment outlook. Mr. Dwane is a member of AllianzGI’s Equity Investment Management Group. He has a B.A. from Durham University and is a member of the Institute of Chartered Accountants.