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PIMCO experts discuss the secular trends that have the potential to disrupt the global economy, financial markets and investors’ portfolios over the next several years.
For more insights on developments that could move economies and markets, see our recent Secular Outlook, “Dealing With Disruption.”
Global and Core Fixed Income Product Strategist
Focusing on high quality and liquidity when taking risk in portfolios will be key in 2023, as pressure on monetary policy remains intense.
High quality fixed income investments can help center portfolios while offering attractive yield potential amid a likely recession in 2023.
Resilient assets with attractive yields can help portfolios stay centered in 2023, when we expect inflation to moderate, central bank policy to steady, and a recession to take hold.
We expect further weakening in U.S. home prices, although not a sharp decline, as higher mortgage rates pressure affordability and induce many homeowners not to move.
Traditional channels of liquidity for commercial real estate have collapsed, providing attractive opportunities for distressed investors.
The European Central Bank is likely to continue hiking rates next year, but the end point remains uncertain.
The U.S. Federal Reserve is likely to pause rate hikes in 2023. At least three factors will drive the decision on when and at what rate to pause.
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