Research Affiliates discusses their approach to managing risks and targeting opportunities in uncertain environments.
Commodities appear attractive amid elevated inflation, lingering supply-demand imbalances and high roll yields.
As uncertainty pervades the markets, we are positioning defensively, increasing liquidity and remaining nimble in an effort to generate income amid bouts of heightened volatility.
The January U.S. CPI (Consumer Price Index) report indicated a higher pace of inflation than many observers expected.
Studies of private market investments tend to focus on the return premium associated with illiquid assets and their appeal relative to traditional public market assets.
Much of the global economy has transitioned quickly from an early-cycle recovery to a mid-cycle expansion that now appears to be rapidly progressing toward late-cycle dynamics.
At the January 2022 meeting, the U.S. Federal Reserve signaled an accelerated timetable to normalize policy, but it will be a long process amid an uncertain environment.
The strong inflation report combined with employment data will likely prompt the U.S. Federal Reserve to begin hiking its policy rate in March.
Uncertainty has become an ongoing theme in markets, economies, and communities everywhere, and in this environment, PIMCO investment professionals gathered – virtually, once again – for our recent Cyclical Forum.
We see attractive investment opportunities in California’s cap-and-trade carbon emissions market.
The Federal Reserve pulls forward rate hike expectations and doubles the pace of tapering in an effort to provide more flexibility to react in 2022.
PIMCO’s Global Advisory Board discusses the longer-term outlook for macro trends and major economies.
Research Affiliates discusses the outlook for U.S. inflation expectations, and explains their business cycle model and how it informs portfolio positions.
The risks of continued elevated inflation likely have the U.S. Federal Reserve considering material changes to its policy path.
Uncertainties that caused U.S. Treasuries to rally and yield curves to undulate in November may persist and could contribute to volatility into year-end.
Disruptive trends and fatter tail risks highlight the importance of selection within asset classes and regions.
The COVID-19 crisis spurs cohesion, but fresh challenges await.
With major central banks likely to exercise patience in the face of price pressures, inflation-linked assets may be attractive allocations.
We offer our view of the most significant outcomes from the UN Climate Change Conference.
As policymakers withdraw fiscal and monetary support, we believe market volatility will rise, presenting investment opportunities.
The recent surge in oil and natural gas prices highlights the interconnected nature of energy markets, as well as the complexities of transitioning away from fossil fuels.
Stronger-than-expected U.S. inflation data in October may prompt the Federal Reserve to consider tapering faster and hiking sooner.
While the recent energy crisis has disrupted China’s economy, we do not expect a significant drag on growth.
The Federal Reserve navigated its tapering announcement without much market volatility, but faces the challenge of managing rate expectations amid elevated inflation risks.
The volatility that has roiled short-term bonds signals a shift in expectations for central bank policy in developed markets.
We believe the municipal markets should remain strong into 2022, although the good news may already be baked into high quality bond valuations.
Combining PIMCO’s innovative ESG (environmental, social, governance) investing approach with its expertise in income investing, this flexible strategy targets a multi-sector, global opportunity set.
Three transformative trends will lead the world into a radically different macro environment over the secular horizon. Read our long-term outlook and implications to consider when investing.
The Fed's more hawkish stance at September’s FOMC meeting, rising upside inflation pressures, and near-term volatility drove Treasury yields higher at the end of the month.
We do not expect widespread contagion across China’s real estate or banking sectors despite the challenging outlook.
Elevated risks to inflation expectations appear to have prompted Federal Reserve officials to revise their policy rate hike projections higher.
The active/passive debate frequently focuses on equities, where active approaches have historically underperformed passive strategies. The story is decidedly different in the world of fixed income, where active managers can more easily exploit mispricing and other inefficiencies.
Value has its day in the sun. But are investors learning the right lessons from it?
Uncertainty always exists in financial markets.
A busy summer on the fiscal front in Washington that’s seen progress on budget and infrastructure legislation could soon give way to another showdown over the U.S. statutory debt ceiling, potentially signaling volatility for investors in the months ahead.
In this edition, Chris Brightman, chief executive officer and chief investment officer of Research Affiliates, explains their outlook on long-term inflation and discusses how investors can prepare for this risk.
There are many potential advantages to investing in tax-exempt municipal bonds, but not all advisors are aware of additional strategies and investment vehicles that can help them meet muni-focused client needs.
Just over a year ago, the biggest prevailing worry in the Canadian financial system was the risk of house prices falling in the aftermath of the COVID-19 pandemic.
Encouraging goal-oriented investing and better-balanced decisions in retirement.
In our baseline forecast, the recent decline in U.S. Treasury yields will reverse somewhat, as some of the near-term factors pressuring yields lower ebb.
With global growth rebounding amid uncertainties over inflation and COVID-19 variants, investors may want to consider a somewhat more cautious and flexible approach when seeking a consistent yield.
The Fed stopped short of providing “advance notice,” but a December tapering announcement remains likely.
Over the next 10 years, the global automotive industry is expected to face one of the most significant changes in its history – the replacement of internal combustion engine (ICE) vehicles with electric vehicles (EVs).
The global economy is in a mid-cycle expansion, following peaks in policy support and growth, and what is likely a transitory spike in inflation. We expect global growth to moderate to a still above-trend pace in 2022.
Global demand for consumer goods has rebounded since the second half of 2020, driven initially by large government stimulus packages and, more recently, by resilient capital expenditures and swift vaccination rollouts in most developed markets.
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.
Over the past few months, economic recoveries have been uneven across regions and sectors.
Managed futures strategies have historically delivered attractive returns over the long run with low equity correlations.
