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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28 episodes
a few times a week
Avg 10 min
English

Episodes 28

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Yesterday · 7 min
The Credit Market Lens: Green Shoots and Legacy Risks in Direct Lending
In this episode, we discuss how After years of abundant capital and intense competition that produced increasingly borrower-friendly terms, the tide may be shifting.
October 7 · 23 min
Growth Holds, Risks Widen
In this episode, we discuss Powerful long-term shifts in geopolitics and technology are shaping the near-term economic and investment outlook, creating resilience in the baseline scenario and wider risks around it.
October 5 · 8 min
The Credit Market Lens: An Oil Shock (Mostly) Like No Other
In this episode, we discuss how This year’s energy price shock isn’t exactly following the historical playbook, with markets and economies absorbing much of the impact – though clear risks remain.
October 1 · 13 min
Monetary Policy Through the Lens of Financial Conditions
In this episode, we discuss how financial conditions are shaping Federal Reserve policy and the outlook for interest rates.
September 30 · 9 min
The U.S. Housing Market Becomes a More Local Story
In this episode, In our U.S. housing market monitor, we discuss how elevated mortgage rates, shifting affordability, and widening regional divergence are reshaping the market and the investment landscape.
September 28 · 7 min
The Credit Market Lens: Hyperscalers Are Repricing, Not Displacing (So Far)
In this episode, we discuss how Despite a sharp rise in AI-related borrowing, signs of broad corporate credit market disruption remain limited.
September 25 · 13 min
A Recalibration, Not a Rate-Hike Cycle
In this episode, we discuss why the Fed is placing greater emphasis on financial conditions than the neutral interest rate (r), and what that means for the outlook for U.S. monetary policy and rate hikes.
September 21 · 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.
September 18 · 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.

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