Michael J. Lima, CFA
Portfolio Manager, Analyst
Mr. Lima is a Portfolio Manager and an Analyst on the Credit Research team in the Fixed Income group. He
is a Portfolio Manager of Putnam Money Market Fund, Putnam Short Duration Bond Fund, Putnam Ultra
Short Duration Income Fund, and Putnam Short Term Investment Fund. As an Analyst, Mr. Lima is
responsible for conducting fundamental analysis, developing insights on material sustainability issues,
assessing valuations, and making buy/sell recommendations for companies in the global financials
sector, which impact multiple fixed-income strategies. He has been in the investment industry since he
joined Putnam in 1997. Mr. Lima is a member of the CFA Society Boston.
More from the Fixed Income team
Sector views
Fixed income markets experienced widespread declines in the U.S. and globally in the third quarter of 2022, as inflation remained high and became more broad-based.
Expect a pause, not a pivot, as savings fuel spending
In the coming months, the Fed will not likely pivot, but pause and wait with a high level of rates for convincing signs of disinflation.
High job openings signal wage-price spiral
Limited labor supply, higher wages, and a high staff turnover seems to have initiated a wage-price spiral.
Covid-related labor imbalances complicate Fed's inflation fight
Demographic shifts and labor imbalances might have disturbed consumption-saving decisions that impact inflation.