While Congress makes progress on infrastructure legislation, the specter of another debt-ceiling showdown gives investors cause for concern.

PIMCO’s base case forecast includes a modest rise in U.S. Treasury yields, amid likely volatility and risks to the outlook.

The U.S. Fed stopped short of providing “advance notice,” but a December tapering announcement remains likely.

The European Central Bank (ECB) unveiled a newly reformulated, more ambitious inflation target. Without new mechanisms to achieve it, however, we believe inflation will remain stubbornly stuck well below 2%.

A bipartisan deal on infrastructure spending would likely be followed by a separate partisan deal funded by tax increases.

Leveraged loan issuers have lagged other fixed income market issuers in moving to SOFR as a reference rate, posing potential risks to investors as the year-end deadline approaches.

Economic growth and inflation will likely peak in 2021 and then moderate in 2022 as fiscal and monetary policy support recede.

Buoyed by faster growth and higher inflation expectations, the Fed advances rate hikes to 2023 and broaches the topic of tapering.

Natural herd immunity in predominantly young emerging markets populations looks set to offset slower vaccine rollouts, setting the stage for a resurgence in economic growth.