Facts vs Feelings with Ryan Detrick & Sonu Varghese Talking About the Bond Bear Market with Daniel Ivascyn (Ep. 57)
The global economy is facing unprecedented challenges and uncertainties, which has disrupted supply chains, boosted inflation, and strained fiscal and monetary policies.
How can investors navigate this complex and volatile environment, and what are the implications for the bond market?
Today, we chat about this and more with a very special guest!
In this episode, Carson's Chief Market Strategist Ryan Detrick & VP, Global Macro Strategist Sonu Varghese speak with Daniel Ivascyn, Group Chief Investment Officer at PIMCO. They explore the current state of the economy, rising yields, and the future path of inflation. Dan also shares details about the role of PIMCO's advisory board and the value of bonds as diversifiers for stocks. Additionally, he talks about his experiences in the industry, his mentors, and his early experiences.
They discuss:
- The main drivers behind the increase in yields
- Why the economy has remained strong despite the aggressive actions of the Federal Reserve
- The factors influencing nominal bond yields
- The experience of taking over a large company
- The value in fixed income markets for long-term investors
- The role of bonds as a diversifier for stocks
- Concerns about companies with lower credit ratings facing challenges in borrowing and rolling over debt
- His early struggles in trading markets and the mentorship he received
- Why US treasuries are still considered a safe asset and how they can benefit from flight to quality flows during times of crisis
- And more!
Connect with Ryan Detrick:
Connect with Sonu Varghese:
About our guest:
Daniel Ivascyn is the Group Chief Investment Officer at PIMCO,and a managing director in the Newport Beach office [which office/company? Are we still talking PIMCO?]. He is lead portfolio manager for the firm’s income, credit hedge fund, and mortgage opportunistic strategies, and is also a portfolio manager for total return strategies. He is a member of PIMCO's Executive Committee and a member of the Investment Committee. Morningstar named him Fixed-Income Fund Manager of the Year (U.S.) for 2013, and he was inducted into the Fixed Income Analysts Society Hall of Fame in 2019. Prior to joining PIMCO in 1998, he worked at Bear Stearns in the asset-backed securities group, as well as T. Rowe Price and Fidelity Investments. He has 33 years of investment experience and holds an MBA in analytic finance from the University of Chicago Graduate School of Business and a bachelor's degree in economics from Occidental College.