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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.

PIMCO

June 24, 2020

Cyclicals 2.0: Green and Digital

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

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PIMCO

June 17, 2020

The Long Climb

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.

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PIMCO

June 10, 2020

In Search of Credit Quality – Q&A

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.

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PIMCO

May 27, 2020

Six Key Questions on U.S. Policy and the Economic Outlook

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.

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PIMCO

May 13, 2020

Europe: Moment of Truth

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.

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PIMCO

April 29, 2020

Proposal for State Bankruptcies Unlikely to Succeed

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.

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PIMCO

April 15, 2020

Anti-Crisis Euro Package: Not Good Enough

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).

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PIMCO

April 8, 2020

Finding the Right Level of Support for Capital Markets and Mortgage Rates

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.

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PIMCO

April 1, 2020

Economic Fallout: Here Comes Congress!

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.

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PIMCO

March 18, 2020

Policymakers: Pulling Out All The Stops

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.

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PIMCO

March 12, 2020

Economic Outlook Update: ILU Trajectories

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.

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PIMCO

March 11, 2020

When Rate Cuts and Quantitative Easing Fall Flat

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.

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PIMCO

March 4, 2020

Fed Moves First to Counter COVID 19 Market Fears

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.

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PIMCO

February 26, 2020

Asset Allocation Views: Prolonging the Expansion

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.

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PIMCO

February 5, 2020

March May Matter More for Investors Watching U.S. Primaries

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.

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PIMCO

January 22, 2020

Key Geopolitical Risks to Oil in 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.

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PIMCO

December 24, 2019

Sponsored Repo: Salve for a Constrained Repo Market, or Potential Funding Destabilizer?

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.

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PIMCO

December 18, 2019

The End of the Beginning

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.

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