Richard Clarida
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Sustainable adjustments to trade imbalances require supportive monetary and fiscal policies – not just currency intervention.
Former Federal Reserve Vice Chair Richard Clarida shares three charts highlighting possible macro inflection points in the business cycle: from growth and inflation to debt and labor.
It is not just tariffs that might affect inflation and growth but also trade uncertainty and the effects of the ambitious Trump policy agenda.
As cash yields dwindle, the case for fixed income becomes increasingly compelling.
In his annual Jackson Hole speech, Fed Chair Powell assessed the post-pandemic U.S. economy and suggested rate cuts are coming soon.
In the post-pandemic fiscal landscape, government debt trajectories may be volatile, but appear broadly sustainable.
Macro at PIMCO: Beyond Duration Calls
PIMCO leverages its deep understanding of macroeconomics, policy, and industry nuance to construct portfolios primed to uncover opportunity and manage risks.
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.
Yield Advantage
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.