Could this be the beginning of the end? This is the question we ask in our latest Cyclical Outlook, which summarizes the conclusions from PIMCO’s quarterly Cyclical Forum held earlier this month.

It’s important to view the FOMC’s forecast update within the broader context of a still-low neutral policy rate.

In addition to China’s latest CPI, other signs point to sustained inflation in the country over the next year.

The pending rule is likely to spur greater dialogue around the costs associated with retail municipal bond transactions.

We believe the trade actions with the most significant potential economic and market impact have yet to unfold.

February’s slower core inflation was in line with expectations, following January’s bump in hospital reimbursement rates and post-holiday normalization in retail goods prices.

Market participants have been puzzled by the decline in the U.S. dollar since the November 2016 election. Expectations over future central bank moves and short-term interest rates offer one explanation.