PIMCO’s Global Advisory Board discusses the longer-term outlook for geopolitics, inflation, and other macro themes.
Despite price declines in many sectors, the Federal Reserve may continue its hawkish approach.
The Federal Reserve affirmed its commitment to price stability, hiking its policy rate 75 basis points again and signaling more tightening to come.
Renewed growth in China’s manufacturing activity, coupled with softening developed market demand, should ease some supply-side pressures – but several other inflation risks remain prevalent.
June’s U.S. CPI (Consumer Price Index) inflation data likely set alarms blaring in the minds of Federal Reserve officials.
June’s U.S. inflation data will likely force central bankers into more restrictive territory – raising the odds of recession.
Amid stormy markets, senior securitized credits hold potential for resilient returns.
We examine key themes from our review of advisor fixed income portfolios over the past year.
To celebrate Pride Month, four PIMCO executives share their perspectives on inclusion and diversity in the workplace and the importance of visible representation.
The varied responses of individual countries to global inflationary pressures have contributed to elevated real-rate differentials between developed and emerging markets.
The war in Ukraine has widened global geopolitical fractures, and we see risks of deglobalization and more fragmented capital markets over the secular horizon.
The proliferation of semiconductors throughout our economy may drive more durable, less cyclical demand and earnings.
Research Affiliates discusses the intriguing long-term outlook for value stocks, and provides insights on the models that underpin its asset class forecasts.
Rising yields, wider spreads, and heightened market volatility are providing an attractive environment, but caution in credit selection is warranted.
Heightened market volatility has led to misconceptions about credit, in our view. We dispel four of them here.
Higher yields, wider credit spreads, and other common market reference metrics suggest relative valuations for muni bonds have become attractive.
We assess risks and potential opportunities for multi-asset portfolios amid late-cycle dynamics, higher inflation, rising interest rates, and geopolitical uncertainty.
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.
Five commercial real estate sectors in markets across the globe have the potential to thrive in this environment.
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.
A framework for optimizing liquidity in alternative investments.
Supply chains set to become less dependent on China over time.
Home price fundamentals suggest appreciation will slow but remain resilient.
Their track record in periods of rising interest rates suggests municipal bonds could be well-positioned for this year’s market environment.
Russia’s invasion of Ukraine, the sanctions response, and the gyrations in commodity markets cast an even thicker layer of uncertainty on what already was an uncertain economic and financial market outlook before the onset of this horrific war.
The pandemic hastens the evolution of the DC plan landscape and challenges plan sponsors to evolve.
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.
Russia’s invasion of Ukraine and the world’s subsequent sanctions and actions to curtail Russia’s access to the global financial system have thrown financial markets into turmoil.
PIMCO’s glide path for target date funds expresses the firm’s collective view on age-appropriate asset allocation that can help prepare defined contribution (DC) plan participants for successful retirements.
Restructured debt has often outperformed the broader municipal bond market as issuers emerge from bankruptcy with higher debt-servicing capacity.
Research Affiliates discusses their approach to managing risks and targeting opportunities in uncertain environments.
Commodities appear attractive amid elevated inflation, lingering supply-demand imbalances and high roll yields.
As uncertainty pervades the markets, we are positioning defensively, increasing liquidity and remaining nimble in an effort to generate income amid bouts of heightened volatility.
The January U.S. CPI (Consumer Price Index) report indicated a higher pace of inflation than many observers expected.
Studies of private market investments tend to focus on the return premium associated with illiquid assets and their appeal relative to traditional public market assets.
Much of the global economy has transitioned quickly from an early-cycle recovery to a mid-cycle expansion that now appears to be rapidly progressing toward late-cycle dynamics.
At the January 2022 meeting, the U.S. Federal Reserve signaled an accelerated timetable to normalize policy, but it will be a long process amid an uncertain environment.
The strong inflation report combined with employment data will likely prompt the U.S. Federal Reserve to begin hiking its policy rate in March.
Uncertainty has become an ongoing theme in markets, economies, and communities everywhere, and in this environment, PIMCO investment professionals gathered – virtually, once again – for our recent Cyclical Forum.
We see attractive investment opportunities in California’s cap-and-trade carbon emissions market.
The Federal Reserve pulls forward rate hike expectations and doubles the pace of tapering in an effort to provide more flexibility to react in 2022.
PIMCO’s Global Advisory Board discusses the longer-term outlook for macro trends and major economies.
Research Affiliates discusses the outlook for U.S. inflation expectations, and explains their business cycle model and how it informs portfolio positions.
The risks of continued elevated inflation likely have the U.S. Federal Reserve considering material changes to its policy path.
Uncertainties that caused U.S. Treasuries to rally and yield curves to undulate in November may persist and could contribute to volatility into year-end.
Disruptive trends and fatter tail risks highlight the importance of selection within asset classes and regions.
The COVID-19 crisis spurs cohesion, but fresh challenges await.
With major central banks likely to exercise patience in the face of price pressures, inflation-linked assets may be attractive allocations.