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Investing in Uncertain Markets

Fear of the coronavirus’ impact on global growth has roiled markets. While we believe growth
should rebound after the outbreak abates, the sell-off is another stark reminder that
disruptors and uncertainty are playing an increasing role in global financial markets.
What should investors consider in uncertain times?
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The Fed's New Guidance: Surprising Is Not Convincing
Fed Reinforces Commitment to Ongoing Monetary Policy Support
Five Characteristics of a Post-COVID World   Video

Five Characteristics of a Post-COVID World(video)

Big macro events tend to accelerate trends that were already in place, so what will be accelerated by the current crisis? Joachim Fels, Global Economic Advisor, discusses five trends that will likely become characteristics of the post-COVID world.

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Market Tested. Stress Tested. Time Tested.

PIMCO can help you navigate current market challenges:

Investment process

Our forward-looking investment process has helped millions of investors navigate changing market conditions - including times of stress.

View our process

Active management

Active management helps to avoid outsized risks that are inherent in passive approaches, which has helped us deliver positive outcomes for investors through 50 years of changing environments.

Active investing

Risk management

Risk management is at the center of everything we do. We regularly stress test portfolios to prepare for market interruptions, so that when the world changes, we are ready.

Risk Management

Featured Update

What’s Ahead for the Economy and Markets: Key Highlights

Group CIO Dan Ivascyn provides a quick overview of PIMCO’s macroeconomic outlook and the implications for financial markets.

Full webcast replay

Guides for Turbulent Markets

Factoring in the Human Factor

How can Behavioral Finance help us in turbulent times? When it comes to making decisions, we’re much less rational than we think:

What are Biases and Why Are They Relevant?

Investor Education

Information is key to making successful investment decisions. Expand your knowledge of fixed income and global markets:

Everything You Need to Know About Bonds

The What, Why and How of Investing in Bonds

A mini book with practical responses to some of the most commonly asked questions about investing in Bonds.

Download

Smart Charts

A library of timely economic and market charts that you can download, save and share:

View charts

Disclosures

A Word about risk: Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and low interest rate environments increase this risk. Reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market's perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. Inflation-linked bonds (ILBs) issued by a government are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation; ILBs decline in value when real interest rates rise. Certain U.S. Government securities are backed by the full faith of the government, obligations of U.S. Government agencies and authorities are supported by varying degrees but are generally not backed by the full faith of the U.S. Government; portfolios that invest in such securities are not guaranteed and will fluctuate in value. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. High-yield, lower-rated, securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Equities may decline in value due to both real and perceived general market, economic, and industry conditions. Derivatives and commodity-linked derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Commodity-linked derivative instruments may involve additional costs and risks such as changes in commodity index volatility or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Investing in derivatives could lose more than the amount invested. Diversification does not ensure against loss.

There is no guarantee that these investment strategies will work under all market conditions or are suitable for all investors and each investor should evaluate their ability to invest long-term, especially during periods of downturn in the market. Investors should consult their investment professional prior to making an investment decision.

This material contains the current opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world. ©2020, PIMCO

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