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.

Investment Strategies

Five Reasons to Choose PIMCO for Tax-Efficient SMAs

3/18/2025

Explore the five key reasons PIMCO stands out in the world of tax efficient Separately Managed Accounts (SMAs), including our commitment to client service, the scale of our operations, and the depth of our investment expertise, all designed to help you better serve your sophisticated clients.

John Hornbeak, David Hammer

Economic and Market Commentary

Municipal Credit Conditions Have Peaked, but Fundamentals Remain Strong

6/12/2023

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

Education

Taxes and Munis in Today’s Volatile Environment

3/22/2023

Explore how municipal bonds may lower your tax bills and offer diversification benefits as compared with other asset classes, plus how the possibility of rising interest rates may affect them.

John Nersesian, David Hammer

Investment Strategies

Munis in Focus: 2023 Municipal Market Update

3/2/2023

Municipal bonds appear poised to benefit from last year’s surge in yields as well as a long-term trend toward improved state and local credit quality

David Hammer

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