On June 5th, the Organization of the Petroleum Exporting Countries (OPEC) will convene its 167th meeting, ostensibly to discuss petroleum market dynamics and production policy. Given the sharp drop in oil prices following last November’s decision to leave production quotas unchanged, we can expect increased attention from investors on this upcoming meeting.
Today, U.S. core CPI surprised to the upside for the fourth consecutive month, logging +0.3% month-over-month, moving the year-over-year rate from 1.75% to 1.81%. Why the surprise?
Although housing activity has remained relatively subdued since the financial crisis, signs are pointing to a pickup during the critical spring selling season. These developments may have important implications for the outlook on monetary policy and the financial markets.
Every year PIMCO investment professionals from around the world come together in Newport Beach to discuss and debate our secular outlook for the global economy and markets over the next three to five years. PIMCO managing director and global strategic advisor Richard Clarida explains what to expect at this year’s Secular Forum, and introduces the distinguished guests who will bring fresh perspectives to engage our internal expertise.
Financial markets certainly have been volatile in recent weeks, driven largely by a sharp upward move in global bond yields. Investors are left searching for answers for the key drivers of the move in interest rates, as it was largely unanticipated and affected many portfolios.
De-risking by corporate pension plans has been put on hold but its return is a matter of “when,” not “if.”
In January, we suggested that investors will be well-served by an emphasis on robust portfolio construction through targeted diversification and a focus on exploiting relative value opportunities, declaring that the days of bold beta bets are over. This post offers a brief update to these views.
UK markets have rallied strongly this morning after the general election has unexpectedly delivered a single party majority. Coming into the UK election, the polls were suggesting that neither of…
Puerto Rico’s financial struggles have drawn wide attention, and many investors are evaluating the short-term and long-term outlook for the territory’s debt. PIMCO remains unenthusiastic about investing in Puerto Rico debt for a number of reasons.