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Experts

Richard Clarida

Global Economic Advisor
Dr. Clarida is a managing director in the New York office and PIMCO's global economic advisor. Prior to rejoining PIMCO in 2022, he was the firm's global strategic advisor from 2006 to 2018. He served as Vice Chairman of the Board of Governors of the U.S. Federal Reserve System from September 2018 to January 2022. Dr. Clarida is also the C. Lowell Harriss Professor of Economics and International Affairs at Columbia University. Prior to joining PIMCO in 2006, he was Assistant Secretary of the Treasury for Economic Policy, in which he served as chief economic advisor to two U.S. Treasury Secretaries. Earlier in his career, he was with Credit Suisse and Grossman Asset Management. He has 26 years of investment experience and holds a Ph.D. and a master's degree in economics from Harvard University. He received an undergraduate degree with Bronze Tablet Honors from the University of Illinois.
Economic and Market Commentary

A timely discussion on the term premium, which may be signaling the possibility of rising compensation for bond investors as the yield curve potentially re-steepens.

Secular Outlook

The post-pandemic inflation shock and rate-hiking cycle produced a generational reset higher in bond yields, creating a compelling multiyear outlook for fixed income as inflation recedes and risks build in other markets.

Economic and Market Commentary

Various methods to estimate this key bond market gauge differ on details but appear to signal rising investor compensation.

Economic and Market Commentary

Recent signals from major central banks suggest challenges ahead with easing monetary policy amid above-target inflation.

Economic and Market Commentary

Debt levels will likely continue to rise absent policy changes, and the yield curve is likely to steepen.

Economic and Market Commentary

Gain insights on how investors can adapt to today’s market landscape from a panel discussion at our recent Alternatives Investor Conference.

Economic and Market Commentary

“Restrictive for longer” is now the mantra as monetary policymakers seek to bring inflation reliably to target.

Economic and Market Commentary

The Fed chair’s high-profile speech emphasized the central bank’s focus on taming inflation.

Economic and Market Commentary

High-quality fixed income assets may offer the best return potential in more than a decade along with diversification benefits as a likely recession approaches.

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