U.S. Public Policy
Ms. Cantrill is head of U.S. public policy and 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 19 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").
We remain constructive on a deal coming together in time to avert a default on U.S. debt, though we expect continued drama in the very near term.
Debt ceiling concerns are rippling through financial markets. We discuss the potential risks and opportunities for investors.
We believe Congress will reach an agreement before the debt limit is reached, but markets could face turbulence later this year.
U.S. Mid-Term Election Outlook
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.
While Congress makes progress on infrastructure legislation, the specter of another debt-ceiling showdown gives investors cause for concern.
A bipartisan deal on infrastructure spending would likely be followed by a separate partisan deal funded by tax increases.
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.