Commentary

Key Takeaways From Our 2021 Advisor Fixed Income Portfolio Review

We examine key themes from our review of advisor fixed income portfolios over the past year.

Commentary

Power of Representation: the 'Us'es'

To celebrate Pride Month, four PIMCO executives share their perspectives on inclusion and diversity in the workplace and the importance of visible representation.

Commentary

Assessing Inflation’s Effects Across Emerging Markets

The varied responses of individual countries to global inflationary pressures have contributed to elevated real-rate differentials between developed and emerging markets.

Commentary

Reaching for Resilience

The war in Ukraine has widened global geopolitical fractures, and we see risks of deglobalization and more fragmented capital markets over the secular horizon.

Commentary

Semiconductors: A Less Cyclical Future

The proliferation of semiconductors throughout our economy may drive more durable, less cyclical demand and earnings.

Commentary

All Asset All Access: Managing Portfolios Amid Evolving Market Narratives

Research Affiliates discusses the intriguing long-term outlook for value stocks, and provides insights on the models that underpin its asset class forecasts.

Commentary

Income Strategy Update: Opportunities Ahead

Rising yields, wider spreads, and heightened market volatility are providing an attractive environment, but caution in credit selection is warranted.

Commentary

Credit Where Credit Is Due: Four Common Misconceptions in Public and Private Credit Markets

Heightened market volatility has led to misconceptions about credit, in our view. We dispel four of them here.

Commentary

Outflows Can Create Potential Opportunities in Municipal Marketplace

Higher yields, wider credit spreads, and other common market reference metrics suggest relative valuations for muni bonds have become attractive.

Commentary

Late‑Cycle Strategies

We assess risks and potential opportunities for multi-asset portfolios amid late-cycle dynamics, higher inflation, rising interest rates, and geopolitical uncertainty.

Commentary

Bank of Canada: Hike More Now, Less Later

The Bank of Canada embarked on a swift tightening path, but secular forces still weigh on the longer-run interest rate outlook.

Commentary

The Big Freeze: Sanctioning Russia Raises Questions on Other Currencies

Sanctions on Russia’s foreign currency reserves will likely stymie the rise of the Chinese renminbi as a competitor to the U.S. dollar.

Commentary

Real Estate Investing in an Uncertain Environment

Five commercial real estate sectors in markets across the globe have the potential to thrive in this environment.

Commentary

Russia‑Ukraine Ramifications: Not All Trade Is Created Equal

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.

Commentary

China Growth Outlook: Counting the Cost of Lockdowns

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.