{"id":605,"date":"2019-08-28T13:20:47","date_gmt":"2019-08-28T17:20:47","guid":{"rendered":"https:\/\/buymuni.com\/?p=605"},"modified":"2019-09-06T13:33:18","modified_gmt":"2019-09-06T17:33:18","slug":"pimco-recession-not-imminent-but-cautious-in-outlook","status":"publish","type":"post","link":"https:\/\/buymuni.com\/?p=605","title":{"rendered":"PIMCO: Recession Not Imminent, But Cautious In Outlook"},"content":{"rendered":"\n<p>August 28, 2019 &#8211; In a report issued this week, PIMCO&#8217;s <a rel=\"noreferrer noopener\" aria-label=\"Dan Ivascyn (opens in a new tab)\" href=\"https:\/\/www.pimco.com\/en-us\/experts\/daniel-j-ivascyn\" target=\"_blank\">Dan Ivascyn<\/a> and <a rel=\"noreferrer noopener\" aria-label=\"Esteban Burbano (opens in a new tab)\" href=\"https:\/\/www.pimco.com\/en-us\/experts\/esteban-burbano\" target=\"_blank\">Esteban Burbano<\/a> discussed the current U.S. interest rate rally and PIMCO&#8217;s outlook.<\/p>\n\n\n\n<p>A couple trends were noted by Ivascyn:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Slowing growth around the world<\/li><li>Uncertainties on trade<\/li><li>Potentially more limited tools outside of monetary policy that can be used to stimulate economies<\/li><li>The political viability of fiscal stimulus<\/li><\/ul>\n\n\n\n<p>Over the next 12-24 months, Ivascyn commented:<\/p>\n\n\n\n<p><em>&#8220;We have become a bit more cautious in our outlook. We\u2019re not yet ready at PIMCO to declare that a recession in the U.S. is imminent, but we expect the economic data to remain weak, especially while we have such uncertainty around trade.&#8221;<\/em><\/p>\n\n\n\n<p>Keeping in mind the primary goal of delivering responsible income, PIMCO&#8217;s Income Fund has increased holdings in housing-related investments relative to generic corporate credit while also reducing interest rate exposure in view of lower long-term bond yields.<\/p>\n\n\n\n<p>The fund&#8217;s defensive position in duration and corporate credit; as well as exposure to emerging markets, have hurt the fund this year, but PIMCO is &#8220;comfortable maintaining a defensive duration position and lower exposure to generic corporate credit&#8221;.<\/p>\n\n\n\n<p>Read the <a rel=\"noreferrer noopener\" aria-label=\"interview (opens in a new tab)\" href=\"https:\/\/www.pimco.com\/en-us\/insights\/investment-strategies\/strategy-spotlight\/income-strategy-update-positioning-for-the-long-term?\" target=\"_blank\">interview<\/a> on PIMCO&#8217;s website.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>Contact Jim Doe at JDoe@buymuni.com.<\/p>\n\n\n\n<p> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>August 28, 2019 &#8211; In a report issued this week, PIMCO&#8217;s Dan Ivascyn and Esteban Burbano discussed the current U.S&#8230;.<\/p>\n","protected":false},"author":7,"featured_media":606,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[30,7,13],"tags":[132],"class_list":["post-605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-investor-outlook","category-markets","tag-pimco","wpcat-30-id","wpcat-7-id","wpcat-13-id"],"jetpack_featured_media_url":"https:\/\/buymuni.com\/wp-content\/uploads\/2019\/09\/20190826-BM-Economy.jpg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"_links":{"self":[{"href":"https:\/\/buymuni.com\/index.php?rest_route=\/wp\/v2\/posts\/605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buymuni.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buymuni.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buymuni.com\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/buymuni.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=605"}],"version-history":[{"count":1,"href":"https:\/\/buymuni.com\/index.php?rest_route=\/wp\/v2\/posts\/605\/revisions"}],"predecessor-version":[{"id":607,"href":"https:\/\/buymuni.com\/index.php?rest_route=\/wp\/v2\/posts\/605\/revisions\/607"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buymuni.com\/index.php?rest_route=\/wp\/v2\/media\/606"}],"wp:attachment":[{"href":"https:\/\/buymuni.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buymuni.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buymuni.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}