Blog Charting Opportunity in Midstream Energy North American oil and gas production will likely be a critical input to the global growth engine, and the midstream sector underpins this growth.
DOWNLOAD CHART With the balance sheet and financing challenges that had plagued the midstream sector since 2014 now largely in the rearview mirror, we believe oil and gas master limited partnerships (MLPs) appear poised to capitalize on the North American energy renaissance. Earnings for midstream energy companies have continued to rise despite volatility in oil prices, as the chart shows, reflecting their lower correlation to oil prices, greater exposure to production volume and ability to generate predictable revenue streams from long-lived assets. With demand for oil and natural gas likely to remain robust, we believe midstream energy now offers one of the more attractive secular growth stories among all asset classes, with support from a favorable – and much improved – entry point. For more on our outlook on MLPs and midstream energy, see “Tapping Opportunity in Oil and Gas Infrastructure.” For more charts critical to understanding markets, economics and policy, visit our Smart Charts library. ACCESS NOW
Viewpoints Disruption and Dispersion: A Bottom‑Up Approach to an Uneven Credit Recovery While the COVID-19 pandemic has disrupted global credit markets, we believe bottom-up research can reveal investment opportunities for 2021.
Blog Beyond Brexit: Outlook and Risks for the U.K. Economy Despite seeing major market swings following the 2016 Brexit referendum, we don’t expect Britain’s departure from the European Union (EU) to have any major economic effects in our baseline outlook for 2021 and beyond. Far more important are COVID-19, fiscal policy, and bigger questions around future productivity growth.
Blog Tail Winds Provide Lift for Emerging Markets Investments A confluence of dynamics are set to accelerate global capital flows to emerging markets amid attractive valuations.
Cyclical outlook Bounded Optimism on the Global Economy Vaccinations and fiscal support should lift the global economy in 2021, but several risks call for careful portfolio positioning.
Blog Cyclical Outlook Takeaways: Bounded Optimism on the Global Economy Global output and demand are likely to rebound strongly in 2021, but we see risks that call for careful portfolio positioning.
Blog A Narrowly Democratic Congress Could Boost Spending and Growth With a narrowly Democratic Congress, U.S. fiscal spending is likely to increase on economic relief from the pandemic, infrastructure, and healthcare, boosting the economic rebound.
In Depth Capital‑Efficient Strategies: Tackling the Challenges of Low Prospective Returns A pragmatic implementation of investment leverage seeks to enhance alpha and diversification.
Blog Oil Prices: Lower for Longer As the oil surplus builds, we expect U.S. crude oil to linger at $30-$40 per barrel for the next several months.
Quantitative Research and Analytics PIMCO’s CMA Guide Value Models: A Systematic Valuation Anchor for Our Capital Market Forecasts