A radically different macro environment should yield good opportunities for investors able to navigate the difficult terrain.
We do not expect widespread contagion across China’s real estate or banking sectors despite the challenging outlook.
Elevated risks to inflation expectations appear to have prompted Federal Reserve officials to revise their policy rate hike projections higher.
While Congress makes progress on infrastructure legislation, the specter of another debt-ceiling showdown gives investors cause for concern.
PIMCO’s base case forecast includes a modest rise in U.S. Treasury yields, amid likely volatility and risks to the outlook.
We see benefits to creating a short-term facility, even if the benefits come later.
The Fed stopped short of providing “advance notice,” but a December tapering announcement remains likely.
The European Central Bank (ECB) unveiled a newly reformulated, more ambitious inflation target. Without new mechanisms to achieve it, however, we believe inflation will remain stubbornly stuck well below 2%.
A bipartisan deal on infrastructure spending would likely be followed by a separate partisan deal funded by tax increases.
The supply-demand imbalance should ease as spending on services outpaces demand for consumer goods in developed markets.
Investors should consider how well their portfolios are prepared for the net zero transition – because, in our view, it’s becoming a matter of when, not if.
Leveraged loan issuers have lagged other fixed income market issuers in moving to SOFR as a reference rate, posing potential risks to investors as the year-end deadline approaches.
To honor Pride Month, three PIMCO executives share their perspectives on authenticity in the workplace.
A flood of market liquidity has pressured repurchase agreement rates, prompting some investors to pivot away from traditional forms of cash management.
Economic growth and inflation will likely peak in 2021 and then moderate in 2022 as fiscal and monetary policy support recede.
Buoyed by faster growth and higher inflation expectations, the Fed advances rate hikes to 2023 and broaches the topic of tapering.
We believe food banks are highly effective vehicles for fighting hunger. Supporting them will help create a better future for everyone.
Expectations for COP26, the importance of issuer engagement, and growth in sustainability-linked bonds were among the many topics covered.
Amid a global pandemic, challenge and uncertainty can serve to strengthen the bonds among communities, and inspire us to take action for a sustainable future.
Natural herd immunity in predominantly young emerging markets populations looks set to offset slower vaccine rollouts, setting the stage for a resurgence in economic growth.
Pro-competition policies aim to foster healthy development in the tech industry.
Market participants have been hesitant to accept SOFR as the successor to Libor, but uniting around a single reference rate is increasingly important to keep benchmark markets from becoming fragmented.
With inflation beginning its much-anticipated rise, forecasters and policy makers have been quick to repeat expectations for a leveling off later this year. It’s worth considering whether longer-term risks could be tilted higher and how portfolios can prepare for different outcomes.
We believe the U.S. is undergoing a large price-level adjustment, not shifting to a persistently higher inflation regime.
Group CIO Dan Ivascyn discusses PIMCO’s base case forecast that inflation will remain contained despite near-term risks to the upside, and also highlights the relatively low cost of hedging those risks.
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