Experts

David Hammer

Portfolio Manager

Mr. Hammer is a managing director in the Newport Beach office and leads municipal bond portfolio management, with oversight of the firm’s municipal investment grade, high yield, taxable, and separately managed accounts. He is the lead portfolio manager on PIMCO’s municipal bond fund complex, including investment grade, high yield, state-specific, closed-end funds, and interval fund. Prior to rejoining PIMCO in 2015, he was a managing director at Morgan Stanley, where he was head of municipal trading, risk management, and research. He has 22 years of investment experience and holds an undergraduate degree from Syracuse University.

Economic and Market Commentary

Municipal Credit Conditions Have Peaked, but Fundamentals Remain Strong

12/6/2023

State and local tax revenues sank in April, yet we believe most governments have strong fiscal positions, with ample reserves and budget flexibility to manage the decline.

David Hammer, Thomas Schuette

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