The varied responses of individual countries to global inflationary pressures have contributed to elevated real-rate differentials between developed and emerging markets.
To celebrate Pride Month, four PIMCO executives share their perspectives on inclusion and diversity in the workplace and the importance of visible representation.
We believe shorter business cycles, elevated volatility, and diminished policy responses warrant a focus on portfolio resilience over reaching for yield.
This year’s surge in yields is restoring value to the bond market, especially with the likelihood of a recession rising, although it remains uncertain when market momentum might turn.
Following strong double-digit profit growth in FY2021, we expect Chinese banks will be less profitable this year as COVID-19 lockdowns continue to disrupt China’s economy.
The Federal Reserve ratchets up the pace of monetary tightening, raising questions about the U.S. growth outlook.
Despite soaring inflation in Europe, hedges appear cheap
The proliferation of semiconductors throughout our economy may drive more durable, less cyclical demand and earnings.
The Biden administration faces rampant inflation in the U.S. but has limited tools to stem the rise in gas and grocery prices.
Heightened market volatility has led to misconceptions about credit, in our view. We dispel four of them here.
In the absence of immediate and substantive policy easing at the national level, we believe that the sector could pose a serious risk to the government’s GDP growth target in 2022.
Federal Reserve hikes policy rate 50 basis points, while remaining flexible in fighting inflation.
Higher yields, wider credit spreads, and other common market reference metrics suggest relative valuations for muni bonds have become attractive.
The Bank of Canada embarked on a swift tightening path, but secular forces still weigh on the longer-run interest rate outlook.
Sanctions on Russia’s foreign currency reserves will likely stymie the rise of the Chinese renminbi as a competitor to the U.S. dollar.
The countries’ weight in global trade is relatively small, but outsize exports of raw and semi-finished goods may portend price hikes across a variety of industries.
While Beijing has set an ambitious growth target this year with a generous fiscal stimulus plan, new COVID-19 waves are adding to mounting headwinds amid a slowing global economy.
As the West cuts Russian energy supplies, U.S. shale oil and natural gas producers may regain global dominance.
Parsing the yield curve can lead to a variety of conclusions about whether a downturn is coming, while underscoring the importance of flexibility.
Supply chains set to become less dependent on China over time.
Significant uncertainty clouds the outlook as the global economy confronts a shock that is negative for growth and will likely spur further inflation. Recession risks have increased.
The U.S. Federal Reserve raised the policy rate at the March meeting and signaled more hikes to come given the risks from high inflation.
Restructured debt has often outperformed the broader municipal bond market as issuers emerge from bankruptcy with higher debt-servicing capacity.
Commodities appear attractive amid elevated inflation, lingering supply-demand imbalances and high roll yields
U.S. inflation outpaced consensus estimates for January, likely complicating the policy path for the central bank.
