Mihir Worah, CIO Asset Allocation and Real Return, discusses several major transitions currently underway in the global economy and details three of PIMCO’s high-conviction asset allocation views.
The current environment has led many investors to reduce their expectations for future returns from traditional assets such as developed market stocks and bonds. Indeed, it raises the question of whether any attractively priced assets remain. That is, what is still “cheap”?
Given our base case of modest global growth aided by a fiscal boost in the U.S., we believe positive returns can still be earned via targeted risk-taking.
The yield curve makes an unusual move after the June jobs report; there are two related reasons.
While market conditions feel distinctly different from a few months ago, many of the key themes we articulated in our February Asset Allocation Outlook remain relevant today.
Mihir Worah, CIO Asset Allocation and Real Return, discusses the outlook for global rates and duration positioning in asset allocation portfolios.
Mihir Worah, CIO Asset Allocation and Real Return, discusses the outlook for real assets in 2016.
The Federal Reserve’s leadership often has said it is monitoring economic and market data as it decides on policy. The question is: When it comes to inflation expectations, is the Fed coming to the right conclusions?
Financial markets, and perhaps the global economy, seem to be reaching a crossroads where it appears that central banks have exhausted their abilities to support real growth with the toolkit currently being used.
It is well understood that while the Federal Reserve is succeeding in the employment part of its dual mandate, it is significantly undershooting the inflation part. The market certainly reflects this. The question is: Will the Fed listen to the market?