PIMCO is one of the world’s premier fixed investment managers. Since our founding in 1971 in Newport Beach, California, we have grown into a global organization with more than 2,150+ professionals united in a single purpose: creating opportunities for our clients in every environment. Our focus on excellence and our short- and long-term track record has encouraged institutions, financial advisors and millions of individual investors to entrust us with their assets. Visit PIMCO’s blog. Subscribe To Get PIMCO Insights Delivered Directly to Your Inbox.
July 8, 2020
The challenge facing investors is how to construct portfolios in an environment where asset prices appear disconnected from the real economy and the resolution of the health crisis is murky.
July 1, 2020
Public-private partnerships and solutions that bring the rather arcane world of “development finance” into mainstream investment practice could be an important, and beneficial, development to come out of this extraordinarily difficult period.
June 24, 2020
While unique and specific to each country or region, the policy moves seen around much of the world have an unusual amount of commonality with substantial support recurring around two broad themes: green and digital
June 17, 2020
Rather than looking back at the vertiginous drop in economic activity that ended the record 128-month economic expansion in February, we discussed the likely nature and shape of the nascent recovery.
June 10, 2020
In this Q&A, portfolio managers Eve Tournier and Sonali Pier share their interpretation of recent market moves, and their views on what parts of the market investors should pay attention to – and which to avoid.
May 27, 2020
Looking ahead to the U.S. economy gradually reopening as policymakers inject record stimulus – all of this in an election year – Libby Cantrill, PIMCO’s head of public policy, and Tiffany Wilding, North America economist, assess the key questions and risks.
May 20, 2020
May 13, 2020
One major airline announced that it may need to lay off around one-third of its staff, and reports suggest three-quarters of U.K. restaurant and bar operators risk going bankrupt. In Italy and Spain, tourism represents around 12% and 14% of respective GDP, according to the World Travel and Tourism Council, and it’s hard to see these activities coming back anytime soon.
May 6, 2020
Over the coming months, we think the Fed’s focus will shift from one of crisis management to one of keeping financial conditions easy.
April 29, 2020
In a radio interview on 22 April, Senate Majority Leader Mitch McConnell said he would be in favor of states being allowed to declare bankruptcy as opposed to the federal government providing additional assistance. His comment came as legislators spar over future federal support for state and local governments.
April 22, 2020
April 15, 2020
At face value, the €540 billion (bn) package announced by euro area finance ministers last week sounds impressive. But details suggest it is insufficient and leaves the burden of crisis management in the hands of national governments and the European Central Bank (ECB).
April 8, 2020
The U.S. Federal Reserve has taken extraordinary steps to facilitate liquidity in capital markets. While these actions have begun to stabilize and normalize valuations, in the lowest risk “core” of the fixed income markets – trading of Treasuries and agency mortgage-backed securities (MBS) – issues still remain with risk transfer and liquidity.
April 2, 2020
April 1, 2020
The massive U.S. stimulus bill that President Trump signed last week is designed to help individuals and businesses facing disruption caused by the coronavirus. However, Congress may have to do more in the months ahead.
March 25, 2020
Over the past few weeks, European countries have stepped up virus containment measures aggressively, with most of the region now in lockdown. Gauging the exact economic impact of these measures is hard.
March 18, 2020
In the face of the most serious global health crisis in more than a century, fiscal and monetary policymakers around the world will very likely have to pull out all the stops in an effort to prevent what currently looks like an inevitable recession from turning into a depression, and to stop financial markets from shifting from a drawdown into a meltdown.
March 12, 2020
The spread of COVID 19, volatile financial markets, new historical lows for U.S. bond yields, and a rare intermeeting rate cut by the Federal Reserve made for a highly unusual backdrop for PIMCO’s quarterly Cyclical Forum in early March.
March 11, 2020
The plunge in the 10-year U.S. Treasury yields over the last week reflects the growing anticipation that the Fed and other central banks will cut rates and use other policy tools, including quantitative easing, to keep financial conditions from tightening during this period of volatility.
March 4, 2020
the Federal Reserve surprised markets with an emergency interest rate cut of 50 basis points (bps). The Fed’s move is likely the first in a series of synchronized actions by the G-7 aiming to support developed market economies as the coronavirus continues to spread outside of China.
February 26, 2020
Following a bumpy 2019 for global growth, we see economic momentum recovering in 2020. While the global health crisis adds uncertainty to the economic outlook, we believe the economic and market risks will be temporary.
February 19, 2020
February 12, 2020
February 5, 2020
Over the next few weeks, the financial markets may react to the early primary results, but we think it is important for investors not to get sidetracked by any primary-related volatility. The 2020 Democratic nominating contest could last longer than previous primary cycles – and the ultimate outcome could look quite different from the results in the early contests.
January 29, 2020
Environment, social, and governance factors have been playing an important role in commodity markets since long before the term “ESG” became popular.
January 22, 2020
The areas of greatest concern today tilt primarily to upside risk to prices, particularly with an easing of U.S.–China trade tensions. However, there are regions and scenarios we do not have the space here to discuss, we expect new risks will likely emerge, and not all risks will be price-bullish.
December 24, 2019
A series of imbalances have arisen in money markets in the decade since the financial crisis, including September’s dramatic spike in overnight repo rates. We believe market participants’ increased reliance on overnight funding and banks’ reduced ability to intermediate money markets under post-crisis regulations were key drivers of this spike – and continue to leave repo markets vulnerable.
December 18, 2019
While the election result reduces Brexit uncertainty significantly, it doesn’t eliminate it. Will there be an extension of the transition period? How will any deal affect the economy? In the meantime, UK banks and sterling, especially wounded since the 2016 referendum, still offer value, while low-yielding gilts look unattractive relative to other government debt, such as U.S. Treasuries.
December 11, 2019
