PIMCO economists Tiffany Wilding and Andrew Balls examine how rising trade frictions, an AI-driven investment surge, and institutional shifts are reshaping global markets and policy responses.
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Economic forces: Tariffs, now averaging 11%, are beginning to weigh on trade and growth, while resilient AI investment continues to drive productivity and market resilience.
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Monetary landscape: Global rate cuts are set to continue as inflation cools and fiscal support wanes, with bond yields offering attractive entry points.
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Investment stance: PIMCO favors short-to-intermediate duration bonds, global diversification, and high-quality asset-backed finance for balanced opportunity and resilience.
How should investors position amid this clash of tariffs, technology, and transition?
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