Ms. Cantrill is a managing director in PIMCO's portfolio management group. In her role, she analyzes policy and political risk for the firm’s Investment Committee and leads U.S. policymaker engagement and policy strategy for the firm. She also works closely with PIMCO’s Global Advisory Board, led by former Federal Reserve Chair Ben Bernanke. She has served as a rotating member of the firm’s Executive Committee and is a founding member of PIMCO Families and PIMCO Women. Prior to joining PIMCO in 2007, she served as a legislative aide in the House of Representatives and also worked in the investment banking division at Morgan Stanley. She has 18 years of investment experience and holds an MBA from Harvard Business School and received her undergraduate degree in economics from Brown University. Ms. Cantrill is a CFA charterholder and a regular contributor to Bloomberg and CNBC. She is also a member of the Council on Foreign Relations and sits on the boards of Covenant House New York and the Securities Industry and Financial Markets Association ("SIFMA").
U.S. Mid-Term Election Outlook
07 October 2022
Libby Cantrill, head of public policy, discusses the current U.S. political environment, how we think the mid-term elections are likely to go, and what it could mean for fiscal policy and the markets.
Markets largely held up in last year’s liquidity crunch, but we believe policymakers should address a few soft spots.
A large fiscal package geared toward pandemic relief will likely boost U.S. growth even further in 2021, but long-term inflationary risks are still balanced.
With a narrowly Democratic Congress, U.S. fiscal spending is likely to increase on economic relief from the pandemic, infrastructure, and healthcare, boosting the economic rebound.
Democrats could begin working on a tax bill later this year, but resulting tax hikes may be weaker and less of a headwind to growth than some fear.
A bipartisan deal on infrastructure spending would likely be followed by a separate partisan deal funded by tax increases.
30 June 2021
Leveraged loan issuers have lagged other fixed income market issuers in moving to SOFR as a reference rate, posing potential risks to investors as the year-end deadline approaches.
30 August 2021
While Congress makes progress on infrastructure legislation, the specter of another debt-ceiling showdown gives investors cause for concern.
A split U.S. Congress in 2023 will likely limit fiscal policy, but could be positive for equity markets.
The Biden administration faces rampant inflation in the U.S. but has limited tools to stem the rise in gas and grocery prices.
31 January 2023
We believe Congress will reach an agreement before the debt limit is reached, but markets could face turbulence later this year.