PIMCO Pod

PIMCO

Welcome to PIMCO Pod, where you can listen to readings of PIMCO’s key thought leadership – from our latest economic outlook to the best ideas from our global investment team. Dive into a world of deep expertise across public and private markets and get insights to help you gain an edge in an ever-changing world.

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21 episodes
a few times a week
Avg 10 min
English

Episodes 21

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Yesterday · 9 min
The Credit Market Lens: AI Capex and the Limits of Crowding Out
In this episode, we discuss AI capital spending may be contributing to higher real rates, but there is little evidence that it’s due to AI bond issuance crowding out Treasuries.
Friday · 9 min
September Fed Hike May Be More Than a Risk Management Exercise
In this episode, we discuss why the Fed’s September rate hike may signal a firmer push to bring inflation back to its 2% target.
September 14 · 10 min
The Credit Market Lens: One AI Trade for Now, Many Trades Later
In this episode, we discuss how For equity investors, the question is relatively simple: Who wins the AI race? For credit investors, it is more nuanced: Do spreads adequately compensate for the broad set of risks embedded in financing the buildout?
September 10 · 11 min
Drawing Comparisons Between Technology Regimes: A Behavioral View
In this episode, we discuss how AI’s investment boom resembles the dot-com era, while highlighting key differences that could shape investor risks and opportunities.
September 8 · 15 min
Welcome Back, Balanced Portfolio
In this episode, we discuss how With resilience concentrated among wealthier households, investors should prioritize quality and structure across consumer-linked ABF investments.
September 4 · 9 min
How a K-Shaped Economy Affects Opportunities in Asset Based Finance
In this episode, we discuss how With resilience concentrated among wealthier households, investors should prioritize quality and structure across consumer-linked ABF investments.
September 3 · 11 min
If Inflation Is the Problem, Why Aren't Wages?
In this episode, we discuss why the Fed may consider tightening policy even though labor costs don’t appear to be driving inflation.
September 1 · 5 min
The Credit Market Lens: U.S. Corporate Issuers Can Digest Higher Refinancing Costs
In this episode, we discuss how Most U.S. investment grade and high yield borrowers appear positioned to withstand refinancing costs, but CCC rated issuers face greater pressure as elevated yields meet weaker balance sheets.
August 28 · 15 min
Buybacks, Market Functioning, and Treasury Predictability
In this episode, we discuss how Treasury buybacks may support market liquidity while preserving a regular and predictable debt strategy.
August 26 · 8 min
PIMCO Perspectives: What's Pushing Long-Term Bond Yields Higher?
In this episode, we discuss how A confluence of rising sovereign debt, surging AI-related corporate bond issuance, and inflation concerns has lifted the 30-year yields in the U.S. and elsewhere to two-decade highs.
August 24 · 8 min
The Credit Market Lens: Narrowing the Visibility Gap in Defaults
In this episode, we discuss how Direct lending defaults are harder to observe than public market defaults, but analysis suggests financial distress has risen markedly since 2022.
August 20 · 12 min
Counterintuitive Labor Market Shifts Constrain Measured U.S. Wage Gains
In this episode, we discuss why shifting labor market dynamics are keeping U.S. wage growth subdued despite falling unemployment.
August 17 · 5 min
The Credit Market Lens: What BDC Markets Are Signaling About Private Credit Valuations
In this episode, we discuss how BDC equities continue to trade at significant discounts to NAV, reflecting skepticism toward reported marks, a concern reinforced by valuation levels that have yet to fully reset, even as BDC bonds continue to outperform their stocks.
August 14 · 10 min
As Older Workers Retire, Labor Costs Ease
In this episode, we discuss how rising retirements and weaker labor supply are easing labor costs and complicating the Fed’s read on the U.S. labor market.
August 11 · 7 min
The Credit Market Lens: The AI Split Between U.S. Dollar and Euro Investment Grade
In this episode, we discuss how As AI-related issuance reshapes bond markets, differences in U.S. dollar and euro performance offer new insights into the roles of supply and technical factors.
August 6 · 13 min
Underlying Inflation Gauges: Trimming Noise or Trimming Signal?
In this episode, We discuss why underlying U.S. inflation appears contained despite elevated core PCE readings, and what that may mean for Fed policy.
August 3 · 7 min
The Credit Market Lens: Still Buying America
In this episode, we discuss how Foreign demand for U.S. assets – especially credit – remains resilient amid broader macro and market uncertainties.
July 30 · 10 min
The Fed Holds Steady, But Questions Linger
In this episode, we discuss why the Fed held rates steady in July and what lingering inflation risks could mean for future policy.
July 29 · 14 min
Geography, Geopolitics, and Gamesmanship Leave Little Room for Error in Energy Markets
In this episode, we discuss how geopolitical tensions and disrupted shipping routes are intensifying energy market risks and weighing on the global economy.
July 27 · 8 min
The Credit Market Lens: The Return of Financial Engineering – Not 2008, But Not Nothing
In this episode, we discuss how Leverage and complexity are gaining ground in today’s late-cycle markets, signaling caution – not crisis – and underscoring the value of diversification and risk management.

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