When Geopolitics Becomes an Economic Input
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Increasing the frequency of marks does little to improve transparency or accuracy in private credit when prices are not anchored to observable, market-based transactions.
Macro Signposts highlights takeaways from the data analysis conducted by our team of economists and other experts.
Oil sends a warning, risk assets shrug, and rates markets price in a more cautious distribution of outcomes.
Mortgage credit sits at the heart of asset-based finance and can offer a compelling blend of yield and diversification. PIMCO Group CIO Dan Ivascyn and Jason Steiner, Head of Residential Credit, explore how data, an integrated public-and-private market perspective, and cycle-tested experience define our distinctive approach to residential mortgage investing.
With yields across high quality fixed income offering a meaningful valuation cushion, this excerpt from our quarterly Income update explores the role of starting yields, quality, liquidity, and global diversification in shaping a more resilient approach to fixed income.
Macro Signposts highlights takeaways from the data analysis conducted by our team of economists and other experts.
Higher starting yields help anchor portfolios as uncertainty across markets and the global economy rises.
Energy shocks, private credit stress, and AI disruption are changing expectations for rates and risk. Marc Seidner, CIO non-traditional strategies, explains how we’re approaching portfolio construction now.
How equity and credit investors are reassessing BDC valuations differently – and why high yield defaults continue to play out primarily through distressed exchanges.
Macro Signposts highlights takeaways from the data analysis conducted by our team of economists and other experts.
Strategies to strengthen and diversify portfolios need to adapt to a world where geopolitical risk is a feature rather than a bug.
The software sector remains challenged by pressured valuations, uncertain recoveries, and less reliable sponsor support.