Putting Markets in Perspective


Global growth is still synching lower, but we don’t think a recession is imminent.

Economy

PIMCO’s outlook for major economies over the next six to twelve months

  • Global

    Outlook

    The global economy should continue to grow, albeit at a slower pace.

    Implications

    Pay attention to starting valuations, be cautious of traditional beta exposures and maintain liquidity.

    Read More
  • U.S.

    Outlook

    We expect U.S. growth to be slower and policy rates to flatline.

    Implications

    Favor flexible strategies, protect against upside inflation surprises by allocating to TIPS or commodities and favor sectors with strong fundamentals like housing.

    Read More
  • Europe

    Outlook

    Weak external demand has been a headwind, but eurozone growth could rebound.

    Implications

    Investors should continue to search for idiosyncratic opportunities that provide space for active management to outperform.

    Read More
  • Emerging Markets

    Outlook

    Emerging markets are supported by favorable internal and external factors.

    Implications

    We see opportunities across all three EM asset classes: external sovereign debt, EM corporate bonds and local EM currency bonds.

    Read More

Financial Markets

PIMCO’s outlook for key economies and markets and opportunities for investors to consider.

  • Fixed Income

    Outlook

    Flexibility and diversification can provide resiliency late in the economic cycle.

    Implications

    Consider actively managed strategies that can allocate across credit sectors, shift tactically in and out of different sectors as valuations change, and are not tied to a specific benchmark.

    Read More
  • Equities

    Outlook

    Style diversification is key for emerging market equities.

    Implications

    EM value stocks may help support long-term returns and improve portfolio diversification potential.

    Read More
  • Short-term

    Outlook

    Active liquidity management helps prepare for portfolio pivots – and profits.

    Implications

    Short-term strategies may help defend against volatile markets, protect purchasing power for future buying opportunities and increase income potential.

    Read More
  • Credit

    Outlook

    A multi-sector approach across the entire credit opportunity set may help generate alpha.

    Implications

    Stay flexible, choose active management and don’t try to time the beta.

    Read More

INTERNATIONAL

[change]

Subscribe
Top