Russia seems less top-of-mind among economy watchers these days. But the country has succeeded in stabilizing its markets and appears poised to weather the worst of a recession.
Today’s Federal Reserve statement does as much as it can to make December a live meeting while omitting any language that suggests an explicit commitment to hike rates: The Federal Open Market Committee (FOMC) has left the door open.
Over the past few weeks I have visited with PIMCO’s clients in Asia, the Americas and Europe, and one issue investors often wanted to discuss was this: Are central banks around the world about to unleash an even bigger money glut, and what does it mean for markets?
Although many commodities have had a wild ride in in recent weeks, Brent crude oil has been remarkably stable over the past six weeks. We expect firmer prices ahead, with Brent rising about 20% from today’s level to about $60/barrel in 2016.
Last night, Representative Paul Ryan (R-WI) took one step closer to becoming the next speaker of the House of Representatives when Speaker John Boehner retires next Friday. While this may represent welcome certainty over the speakership, there is arguably less certainty surrounding the resolution of two significant fiscal deadlines: the debt ceiling and the government funding bill.
While many are focused on whether U.S. federal spending hits the debt ceiling before a deal is reached to increase it, that scenario is only part of the story in the U.S. Treasury bill market.
Canadians went to the polls on Monday and gave Liberal Party leader Justin Trudeau enough seats to form a majority government after nearly a decade of control by Conservative Prime Minister Stephen Harper. For Canadian capital markets, however, the change is unlikely to be meaningful.
We think eurozone unemployment would have to fall to about 8% – or possibly lower – to move inflation closer to the ECB’s target. The risk to the ECB’s inflation forecast is therefore to the downside.
Thursday’s Consumer Price Index (CPI) report offers cautious optimism that wages may start to rise.
In this video, Mark Kiesel, PIMCO’s CIO Global Credit, discusses key trends influencing global credit markets, such as the longer-term outlook for interest rates, potential for more stimulus in China and market fundamentals, particularly in the U.S.