Andrew Balls, Richard Clarida, Daniel J. Ivascyn
Is the global economy still in The New Neutral? This is one of the central questions PIMCO investment professionals gathered to answer during our 2015 Secular Forum, May 18–20. This time around, we have identified six key trends that are likely to define the global opportunity set available to investors and the returns they can expect over a secular horizon. We also gauge the relative appeal of asset classes as long-term investments, and we explain the global significance of neutral.
Mihir P. Worah
Over the next three to five years, PIMCO expects the global economy will continue along a New Neutral path in which major economies tend to drift along at modest growth rates. Mihir Worah, Chief Investment Officer Real Return and Asset Allocation, drills down on the firm’s views on the future of inflation and the role of commodities in inflation and growth estimates.
Persistent trends in economies around the world are providing opportunities for focused, long-term investors in the credit markets. Mark Kiesel, Chief Investment Officer Global Credit, discusses promising themes PIMCO sees over the next three to five years, including the U.S. energy revolution, the rising Asian consumer, the ramifications of global banking regulation and latent demand in the U.S. housing market. PIMCO’s global investment professionals gathered in May at our annual Secular Forum to discuss our long-term, or secular, views of economies and markets around the world.
Scott A. Mather
A year ago, PIMCO said the world was in The New Neutral, as the path to recovery dragged on years after the financial crisis. Scott Mather, Chief Investment Officer U.S. Core Strategies, discusses how the outlook for the U.S. differs, to a degree, from other large economies.
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This is not an offer of securities to any person in any jurisdiction where it is unlawful or unauthorized. PIMCO provides services only to qualified institutions and investors. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. ©2016, PIMCO.
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