What Should Investors Expect an Active Fixed Income Manager to Deliver?
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Cyclical Outlook
Growth Holds, Risks Widen
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Cyclical Outlook
PIMCO’s Cyclical Outlook: Watch Webcast Replay
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PIMCO Perspectives
What’s Pushing Long-Term Bond Yields Higher?
Featured Insights
The Federal Reserve held its policy rate steady in October, but the door is clearly open to further hiking.
The AI investment boom is reshaping the U.S. economy, with higher policy rates and tighter financial conditions slowing growth in the sectors most sensitive to borrowing costs.
Yield is only the starting point. Active fixed income seeks to add value through security selection, relative-value investing, and diversified sources of outperformance, or alpha.
AI's infrastructure boom is generating significant funding needs. Hear how Mohit Mittal, CIO Core Strategies, and Sonali Pier, Portfolio Manager, assess opportunities across data centers, chip financing, and energy infrastructure while staying focused on resilient cash flows.
Agency mortgage spreads remain unusually wide, creating attractive opportunities in high-quality fixed income. Portfolio Manager Daniel Hyman discusses where active managers may find value in agency MBS and why certain market participants can create pricing inefficiencies.
Bond yields have moved higher around the world. Portfolio Managers Pramol Dhawan and Sachin Gupta discuss how global fixed income can help investors diversify sources of return while uncovering opportunities across developed and emerging markets.
Higher yields have improved bonds’ income and diversification potential, but the same reset is testing weaker borrowers, leveraged AI financing, and rate-sensitive real estate.
The Federal Reserve will likely hold rates steady at the next meeting, weighing inflation risks against an economy being reshaped by AI.
Amid AI disruption risk and elevated refinancing costs, we can expect a valuation gap to persist between software loans and the broader loan market.
PIMCO’s Tomoya Masanao discusses the outlook for Japanese bonds, from BOJ policy and higher yields to their role in global fixed income portfolios.
Economic resilience depends heavily on continued AI investment to bolster growth, imports, and exports around the world.
After years of abundant capital and intense competition that produced increasingly borrower-friendly terms, the tide may be shifting.