Insights

March inflation data may put the Federal Reserve close to its terminal policy rate this cycle, if it hasn’t already reached it.

In this two-part series, former Fed chairman Dr. Ben Bernanke, who is now a senior advisor at PIMCO, and Dr. Richard Clarida, a former Fed vice chairman who now is PIMCO’s global economic advisor, share policymakers’ playbook for navigating global challenges. For other insights and our latest economic outlook visit: pimco.com/secular.

In this two-part series, former Fed chairman Dr. Ben Bernanke, who is now a senior advisor at PIMCO, and Dr. Richard Clarida, a former Fed vice chairman who now is PIMCO’s global economic advisor, share policymakers’ playbook for navigating global challenges. For other insights and our latest economic outlook visit: pimco.com/secular.

Find out how we’re positioning portfolios across global asset classes, and why we remain cautious on risk overall, with Erin Browne, portfolio manager and head of asset allocation.

Learn how we’re finding interesting relative value opportunities across asset classes and within asset classes, and why we think there are many reasons to be excited about the opportunities ahead, with Erin Browne, portfolio manager and head of asset allocation, and Justin Blesy, asset allocation strategist.

A closer look at performance across hedge fund styles.

A guide for investors embarking on the journey of building a defensive alternatives program.

Although affordability remains an obstacle, recent data offer reasons to be more constructive as broader conditions still appear supportive of home prices.

Engagement is an essential tool for sustainable investing, as it can enhance investment insight and help influence positive change.

In this two-part series, former Fed chairman Dr. Ben Bernanke, who is now a senior advisor at PIMCO, and Dr. Richard Clarida, a former Fed vice chairman who now is PIMCO’s global economic advisor, share policymakers’ playbook for navigating global challenges. For other insights and our latest economic outlook visit: pimco.com/secular.

In this two-part series, former Fed chairman Dr. Ben Bernanke, who is now a senior advisor at PIMCO, and Dr. Richard Clarida, a former Fed vice chairman who now is PIMCO’s global economic advisor, share policymakers’ playbook for navigating global challenges. For other insights and our latest economic outlook visit: pimco.com/secular.

Find out how we’re positioning portfolios across global asset classes, and why we remain cautious on risk overall, with Erin Browne, portfolio manager and head of asset allocation.

Learn how we’re finding interesting relative value opportunities across asset classes and within asset classes, and why we think there are many reasons to be excited about the opportunities ahead, with Erin Browne, portfolio manager and head of asset allocation, and Justin Blesy, asset allocation strategist.

An allocation to fixed income may help investors navigate a potential recession as well as uncertainty around the Federal Reserve’s policy trajectory.

Watch PIMCO experts discuss the three macro themes investors should watch for throughout the rest of 2023.

In these highly uncertain times, bonds now offer investors attractive yields, plus diversification and capital appreciation potential.

Studying over 70 years of data lead us to believe that a recession may be imminent. Watch PIMCO Economist Tiffany Wilding discuss the economic implications of rising interest rates, and why investors may do well to stay invested in bonds.

The effects of tighter financial conditions are becoming apparent, bringing forward the risk of recession while suggesting a supportive backdrop for bonds.

A closer look at performance across hedge fund styles.

A guide for investors embarking on the journey of building a defensive alternatives program.

Although affordability remains an obstacle, recent data offer reasons to be more constructive as broader conditions still appear supportive of home prices.

Engagement is an essential tool for sustainable investing, as it can enhance investment insight and help influence positive change.

Debt ceiling concerns are rippling through financial markets. We discuss the potential risks and opportunities for investors.

Commercial real estate markets, already stressed going into 2023, have suffered additional repercussions from the recent banking turmoil. Find out how current challenges may create opportunities for investors.

We believe Canada’s banking sector is more insulated from some of the issues facing the U.S. banking system, and as a result, credit conditions in Canada may tighten less than in the U.S.

EM as a whole stands to potentially benefit from China’s post-pandemic economic reopening, with differentiation among individual countries as global trade allegiances shift.

We analyze the good, the bad, and the ugly of the correction in global commercial real estate.

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.

The European Central Bank hikes rates and indicates there is more ground to cover.

Tighter credit conditions pose increasing risks to economic activity, leading the U.S. Federal Reserve to signal a likely pause.

March inflation data may put the Federal Reserve close to its terminal policy rate this cycle, if it hasn’t already reached it.

Economic and market stresses raise the risk of a recession. Fixed income can offer the potential for attractive yield and stability amid the uncertainty.

Slower credit growth may curtail broader U.S. economic growth, taking pressure off the Federal Reserve.

China’s central government puts high-quality growth as top priority, along with continued support for business and opening-up.

In a dovish move, the central bank raises rates by half a point.

Shocks to the U.S. banking system underscore how even cash holdings can involve risk and also suggest that the timeline for a recession may have drawn nearer.

Even after gold ceased to be the “standard” in the global monetary system last century, it maintains its glitter as a viable investment, especially during periods of rising inflation.

Alternative investments offer opportunities to diversify portfolios in times of market uncertainty. But among a range of options, investors must first understand the risks and benefits.

As part of PIMCO’s ESG process, we believe that identifying and successfully engaging with companies that are willing to improve their ESG standing is critical for investors.

Learn about “tail risk” and how portfolios can be managed to minimize losses without curtailing growth.

Municipal bonds priced at a premium often provide the same return as par bonds that have the same credit quality and structure – with the added potential benefit of higher cash flows and lower market volatility.

High yield bonds – defined as corporate bonds rated below BBB− or Baa3 by established credit rating agencies – can play an important role in many portfolios. They typically offer higher coupons than government bonds or high grade corporate bonds (or, corporates) and have the potential for price appreciation in the event of an improvement in the economy, or performance of the issuing company (of course, if these conditions worsen, then prices can also go down). Because the high yield sector generally has a low correlation to other sectors of the fixed income market along with less sensitivity to interest rate risk, an allocation to high yield bonds may provide portfolio diversification benefits. In addition, high yield bond investments have historically offered similar returns to equity markets, but with lower volatility.

Traditional preferred securities (“preferreds”) are fixed-income investments with equity-like features mainly issued by large banks and insurance companies.

Hedged share classes can be a useful tool for mutual fund investors to gain exposure to assets denominated in foreign currencies, without taking on the full accompanying currency risk.

Most bond investors know that interest rate changes can affect the value of their fixed income holdings. How a bond or bond portfolio’s value is likely to be impacted by rising or falling rates is best measured by duration.