PIMCO Pod

The Credit Market Lens: Differing Signals in BDCs, and Orderly Defaults in High Yield

27 Apr 2026

Contributed by Lukas

In this episode, we discuss how equity and credit investors are reassessing BDC valuations differently – and why high yield defaults continue to pla...

When Geopolitics Becomes an Economic Input

24 Apr 2026

Contributed by Lukas

In this episode, we discuss strategies to strengthen and diversify portfolios need to adapt to a world where geopolitical risk is a feature rather tha...

Higher Energy Costs, Weaker Tax Relief Squeeze U.S. Households

22 Apr 2026

Contributed by Lukas

In this episode, we discuss how persistent energy price pressures and less‑than‑expected tax relief are intensifying financial stress for U.S. hou...

The Credit Market Lens: Software Stuck in a Trough

20 Apr 2026

Contributed by Lukas

In this episode, we discuss how, the software sector remains challenged by pressured valuations, uncertain recoveries, and less reliable sponsor suppo...

Why the Fed Could Shrink Its Balance Sheet Again (and Markets Might Not Notice)

16 Apr 2026

Contributed by Lukas

In this episode, we discuss why the Federal Reserve could further shrink its balance sheet and why, if done gradually, markets may see little impact. ...

The Credit Market Lens: Oil Supply Shocks Don’t Age Well

13 Apr 2026

Contributed by Lukas

In this episode, we discuss how, Markets may be pricing some relief for now, but the true measure of an oil shock is how long it endures.  The discu...

U.S. Employment Volatility Masks Structural Shift

09 Apr 2026

Contributed by Lukas

In this episode, we discuss how volatile U.S. employment data is masking a structural shift toward slower labor force growth and greater reliance on p...

Temporary Disruption – or the Start of a Global Supply Shock?

03 Apr 2026

Contributed by Lukas

In this episode, we discuss the growing risk that prolonged Iran-related oil disruptions could shift from a temporary shock to a global supply crisis....

The Credit Market Lens: A market split, but for how long?

30 Mar 2026

Contributed by Lukas

In this episode, we discuss how, Amid geopolitical uncertainty, dispersion across credit markets – rather than a broad risk off move – has become ...

Layered Uncertainty: Conflict, Credit Stress, and AI

27 Mar 2026

Contributed by Lukas

In this episode, we discuss how in a world of intensified uncertainty and dispersion, investing becomes less about forecasting and more about favoring...

Spreads May Be Converging Across Public and Private Markets, But Liquidity Is Not Evolves

24 Mar 2026

Contributed by Lukas

In this episode, we discuss the efforts to make private credit tradable face obstacles and risk undermining one of the main reasons – earning an ill...

Caution Takes Center Stage at the March Fed Meeting

20 Mar 2026

Contributed by Lukas

In this episode, we discuss how the Fed emphasized a cautious stance on rate cuts amid uncertainty from the recent energy shock. The discussion and c...

Private Credit’s Other Lanes Still Offer Value

17 Mar 2026

Contributed by Lukas

In this episode, we discuss why the direct lending sector is under scrutiny and highlight how the broader private credit universe, spanning asset base...

Middle East Conflict Clouds the Economic Outlook

12 Mar 2026

Contributed by Lukas

In this episode, we discuss how the Middle East conflict could drive a global energy supply shock that heightens inflation risks, pressures growth, an...

Behavioral Insights for Investors: Reconciling the Hot Hand and Gambler’s Fallacies.

05 Mar 2026

Contributed by Lukas

In this episode, we discuss two seemingly opposite behavioral biases and what they mean for investors. The discussion and content provided within thi...

Tariff Ruling Drives Near-Term Uncertainty, With Potential for Longer-Term Stability

26 Feb 2026

Contributed by Lukas

In this episode, we discuss the economic and policy implications of the recent U.S. Supreme Court ruling on tariffs. The discussion and content provi...

The AI-Driven Productivity Tide May Not Lift All Boats

19 Feb 2026

Contributed by Lukas

In this episode, we discuss how the rapid adoption of AI is shaping U.S. productivity, investment, and labor markets, creating both economic opportuni...

U.S. Housing Inflation: Stubbornly High to Stubbornly Low

12 Feb 2026

Contributed by Lukas

In this episode, we discuss the outlook for U.S. housing prices.  The discussion and content provided within this podcast is intended for informatio...

Expect the Unexpected

09 Feb 2026

Contributed by Lukas

In this episode, we discuss why surprise, rather than stability, may be the defining feature of 2026 as policy volatility reshapes markets and investm...

U.S. Policy Update: Warsh Fed Nomination and Texas Special Elections

05 Feb 2026

Contributed by Lukas

In this episode, We discuss recent U.S. policy developments, including the Warsh Fed nomination and surprising Democratic gains in Texas special elect...

Under a Warsh Fed, Expect a Thoughtful Policy Approach

03 Feb 2026

Contributed by Lukas

In this episode, We discuss how Kevin Warsh, the new Fed chair nominee, would likely look to reduce the size of the Fed's balance sheet and revisit co...

Fed Holds Steady and Signals Longer-Term Easing Bias

29 Jan 2026

Contributed by Lukas

In this episode, we discuss how the Fed kept interest rates steady in January while hinting that easing may happen at some point when supported by the...

Why U.S. Productivity Gains No Longer Reach Workers

23 Jan 2026

Contributed by Lukas

In this episode, We discuss why recent U.S. productivity gains aren’t boosting worker incomes correspondingly, as more of the benefits flow to large...

PIMCO Cyclical Outlook - Compounding Opportunity

13 Jan 2026

Contributed by Lukas

In this episode, We discuss how, following strong 2025 returns, high quality fixed income continues to offer attractive yields and global diversificat...

Theory of Mind in Markets

10 Dec 2025

Contributed by Lukas

In this episode, Anastasia Buyalskaya, an advisor to PIMCO on behavioral science, discusses how understanding others’ beliefs and expectations can h...

How Tariffs and Technology Reshaped the U.S. Economy in 2025 – and What Comes Next

05 Dec 2025

Contributed by Lukas

In this episode, we discuss how tariffs and rapid AI adoption shaped the U.S. economy in 2025, and what these trends could mean for growth, inflation,...

Charting the Year Ahead: Investment Ideas for 2026

04 Dec 2025

Contributed by Lukas

In this episode, we explore opportunities across equities, bonds, credit, and commodities that have the potential to offer investors resilience and di...

Tariffs Are Here to Stay

21 Nov 2025

Contributed by Lukas

In this episode, we discuss how the Supreme Court could affect U.S. tariffs. The discussion and content provided within this podcast is intended fo...

The Economics of AI Scale

13 Nov 2025

Contributed by Lukas

In this episode, we discuss the potential macroeconomic impacts of AI, and how its incredible possibilities balanced against its risks, costs, and cur...

After the Gold Rush The Strategic Role of Commodities in Portfolios

13 Nov 2025

Contributed by Lukas

In this episode, we discuss how investors have poured into gold – but they may also see compelling benefits from a broad-based commodity allocation....

Fed Policy in the Fog of Missing Data

07 Nov 2025

Contributed by Lukas

In this episode, we discuss how the U.S. government shutdown is obscuring key economic data, prompting the Federal Reserve to potentially delay intere...

China’s Growth Engine Faces Fresh Challenges

30 Oct 2025

Contributed by Lukas

In this episode, we discuss how China’s growth model is being tested by weakening domestic demand and rising global trade barriers. The discussion ...

Cracks Emerge Beneath Market Resilience, Challenging Areas of the U.S. Economy

23 Oct 2025

Contributed by Lukas

In this episode, we discuss how recent bankruptcies along with price movements in select markets underscore the widening gap between winners and loser...

Tariffs Test AI-Driven Expansion

17 Oct 2025

Contributed by Lukas

In this episode, we discuss how underneath the AI-related optimism lifting stock markets are increasing signs that the cost of tariffs is building. T...

U.S. Shutdown Stalemate: Economic Impact and the Fed’s Next Move

09 Oct 2025

Contributed by Lukas

In this episode, we discuss how the U.S. government shutdown could affect the economy and disrupt the data releases that inform investments and Fed po...

PIMCO Cyclical Outlook - Tariffs, Technology, and Transition

02 Oct 2025

Contributed by Lukas

In this episode, we discuss how locking in attractive bond yields can support long-term returns, especially as central banks cut interest rates and ta...

Troubling Signals in U.S. Employment Data

25 Sep 2025

Contributed by Lukas

In this episode, we take a deeper dive into U.S. labor market data that reveal troubling trends, which will likely prompt more Fed interest rate cuts....

Fed Delivers Dovish Shift, Restarts Rate-Cutting Cycle

19 Sep 2025

Contributed by Lukas

In this episode, we discuss how the Federal Reserve cited increasing risks to the U.S. labor market as a reason to ease monetary policy.   The discu...

U.S. Labor Markets: A Release Valve for Tariff Pressure?

18 Sep 2025

Contributed by Lukas

In this episode, we discuss how U.S. companies are absorbing tariffs by cutting labor costs and increasing prices modestly.  The discussion and cont...

PIMCO Perspectives - A Fed Housing Fix That’s Hiding in Plain

16 Sep 2025

Contributed by Lukas

In this episode, we discuss how mortgage bond reinvestment could be the Federal Reserve’s most effective and immediate tool to unlock the housing ma...

Decision-Making and Behavioral Bias in the Age of AI

12 Sep 2025

Contributed by Lukas

In this episode, Anastasia Buyalskaya, an advisor to PIMCO on behavioral science, shares general thoughts on how AI might be used to support investmen...

Renewed Challenges to Fed Independence

29 Aug 2025

Contributed by Lukas

In this episode, we discuss how President Trump's announcement that he is firing a Federal Reserve governor could be consequential for perceptions of ...

The Economy Isn’t the Stock Market (and Vice Versa)

20 Aug 2025

Contributed by Lukas

In this episode, we discuss this year's disconnect between the performance of the U.S. stock market and that of the U.S. economy more broadly.   Th...

U.S. Economic Data: Reliability Is Crucial

14 Aug 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the need for more funding and updates at the U.S. Bureau of Labor Statistics to help keep economic data accur...

Downshifting to Neutral: Labor Market Revisions Spark Fears of Slower Growth

07 Aug 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss slower U.S. job growth and likely economic cooling, along with the implications for Fed rate cuts.   The d...

U.S. Economy: Investment Momentum Meets Policy Uncertainty

01 Aug 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how the Fed will likely return to neutral policy by 2026, with no major changes or firing of Chair Powell exp...

Long View on the Fed: A Return to Neutral

24 Jul 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how the Fed will likely return to neutral policy by 2026, with no major changes or firing of Chair Powell exp...

The Economic Impact of U.S. Tariffs: Waiting, Watching, and Planning

18 Jul 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how U.S. tariffs are mostly hitting businesses, with smaller effects on consumers so far  The discussion an...

PIMCO Perspectives - Holding Steady Amid Whipsawing Markets

17 Jul 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the outlook for the second half of 2025, which remains favorable for strategies emphasizing globaldiversifica...

Balancing Act: Building Resilient Portfolios in a Changing Landscape

01 Jul 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how systematic equity strategies and disciplined diversification can help multi-asset portfolios thrive in un...

Bend, Not Break: Investing in Real Estate Amid Economic Uncertainty

27 Jun 2025

Contributed by Lukas

In this episode of PIMCO Pod, we explore why today’s uncertain environment means real estate investors may want to prioritize durable income—andst...

Developed Market Public Debt: A Long Road Ahead

25 Jun 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss public debt in developed countries and what it means for investors.  The discussion and content provided wi...

U.S. Policy Watch: From Trade to Taxes

20 Jun 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how U.S. policymakers' focus is shifting from trade issues toward tax and spending plans, affecting the econo...

PIMCO Secular Outlook - The Fragmentation Era

10 Jun 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how with the world order in flux, investors can look to fortify portfolios by diversifying across global mark...

Japan: Rates and Risks Back on the Global Stage

06 Jun 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the factors driving recent volatility in Japan’s government bond markets. The discussion and content provi...

The U.S. Current Account: Trade and Fiscal Deficits Are Closely Linked

29 May 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how the U.S. trade deficit is linked to its fiscal deficit, and how lessons from history suggest it could be ...

Moody’s Downgrade Underscores Tensions Over U.S. Debt Outlook

21 May 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how the recent Moody’s downgrade underscores tension over the U.S. debt outlook. The discussion and conten...

How Does the Data Make You Feel?

16 May 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how emotions play a crucial role in investment decision-making by signaling risks, and why managing - not ign...

The Fed Is in a ‘Good Place’ – But for How Long?

13 May 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how Fed officials are remaining patient, likely awaiting hard evidence of a weaker U.S. labor market before c...

A Tariff Winter Is Coming?

01 May 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how higher tariffs are likely to cause economic disruptions, affect consumer and business activity, and poten...

Challenges to Fed Independence

24 Apr 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the outlook for Federal Reserve independence amid pressure from the Trump administration. The discussion and...

How Effectively Can the U.S. Economy Untether From China?

17 Apr 2025

Contributed by Lukas

We discuss the challenges and implications of the U.S. economy's efforts to reduce reliance on China amid evolving trade policies and tariffs. The di...

PIMCO Perspectives - Trade Wars and the U.S. Dollar

17 Apr 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how rapid U.S. policy changes pose challenges for investors accustomed to a global financial system anchored ...

Overall U.S. Tariff Level Still High Despite Exemptions

17 Apr 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how U.S. tariffs remain high despite recent exemptions for certain products, as the Trump administration rema...

Navigating Global Market Turbulence

14 Apr 2025

Contributed by Lukas

In this episode of PIMCO Pod, Group CIO Dan Ivascyn and Esteban Burbano, fixed income strategist, discuss the impact of U.S. tariffs on global markets...

The U.S. Economy’s Trajectory Amid Higher Tariffs

11 Apr 2025

Contributed by Lukas

We discuss the economic effects of the Trump administration's aggressive tariffs, which could lead to U.S. stagflation and global contraction while co...

President Trump Blinks for Now, But Tariffs Remain High

11 Apr 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the significant implications for U.S. and global growth and inflation. The discussion and content provided...

Tariff Turbulence: What to Watch, Including Possible Constraints

08 Apr 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the Trump administration’s commitment to tariffs as a long-term strategy to rebalance trade policy. The ...

PIMCO Cyclical Outlook - Seeking Stability

01 Apr 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss a time of sweeping geopolitical change and clear challenges for riskier assets, where bond markets offer a so...

Trade Policy and the U.S. Economy in 2025

28 Mar 2025

Contributed by Lukas

In this episode of PIMCO Pod, we look at the impact of the Trump administration's trade policy, especially tariffs, and how this could affect U.S. eco...

The Challenges of Currency Intervention

21 Mar 2025

Contributed by Lukas

In this episode of PIMCO Pod, we explore the challenges facing possible U.S. efforts to intervene in currency markets. The discussion and content...

Vegetables vs. Dessert Under Trump 2.0: Assessing the Economic Impact of Policy Decisions

13 Mar 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how the outlook for modest fiscal reforms and increased defense spending are unlikely to significantly boost ...

Hope and Hype on German and EU Fiscal Reforms

05 Mar 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how the outlook for modest fiscal reforms and increased defense spending are unlikely to significantly boost ...

Reciprocal Tariffs: The Trump Administration’s New Trade Strategy

21 Feb 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the Trump administration's plan to scrutinize foreign trading practices and potentially impose reciprocal tar...

PIMCO Perspectives - Where to Look When Equities Are Priced for Exceptionalism

21 Feb 2025

Contributed by Lukas

We discuss how lofty U.S. stock valuations call for a renewed focus on risk assessment and portfolio diversification. The discussion and content provi...

U.S. Labor Market Faces Tighter Immigration Policy

14 Feb 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the potential slowdowns in the U.S. labor market and economic growth due to tightened immigration policies, d...

The Tariff Tug-of-War: Balancing Economic Growth and Trade Relations

12 Feb 2025

Contributed by Lukas

In this episode of PIMCO Pod, we explore the delicate balance between protectionism and global cooperation. The discussion and content provided wit...

What U.S. Tariff Announcements Could Mean for the Economy

08 Feb 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the potential economic implications of recent U.S. tariff announcements under the Trump administration. Th...

The Behavioral Lens: Best Practices for Decision-Making Under Uncertainty

30 Jan 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss behavioral insights to help enhance investors' decision-making processes. The discussion and content provi...

The 5 D’s of Trump’s Second Administration: Key Economic Themes

23 Jan 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the high-level outlook for U.S. policy in 2025 along with macroeconomic implications. The discussion and c...

PIMCO Cyclical Outlook - Uncertainty Is Certain

14 Jan 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how amid an unsettled global economic outlook and elevated equity valuations, bond markets present attractive...

Tariffs, the Dollar, and the Fed: Crucial Decisions in 2025

10 Jan 2025

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how Federal Reserve policy decisions and related currency moves are crucial to the impact and effectiveness o...

Will We See Bold Policy Choices in the U.S.?

19 Dec 2024

Contributed by Lukas

In this episode of PIMCO Pod, we explore President-elect Donald Trump's possible policies and how they could affect U.S. stock markets and the economy...

From Cash to Bonds: A Strategic Shift in Post-Pandemic Investing

18 Dec 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how, as cash yields dwindle, the case for fixed income becomes increasingly compelling. The discussion and c...

Alternatives Investment Outlook - Private Credit: Asset-Based Finance Shines as Lending Landscape Evolves

13 Dec 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how the transition from bank-dominated lending to a diversified financing ecosystem offers unprecedented oppo...

Global Inflation: Is the Tide Turning?

11 Dec 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss long-term inflation trends, and the outlook for a potentially more volatile path ahead. The discussion and...

PIMCO Perspectives - Thoughts From the Bond Vigilantes

10 Dec 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss concerns about the impact of rising deficits on U.S. Treasuries, it helps to differentiate bond investments b...

U.S. Debt Dilemma: Politics and Economics

29 Nov 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the challenges of the U.S. deficit and debt as President-elect Donald Trump prepares to take office with a Re...

Fed 2025 Outlook: Hikes Still Unlikely

21 Nov 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the Federal Reserve's monetary policy outlook through 2025, emphasizing a return to a more normal economic en...

Negative Correlations, Positive Allocations

20 Nov 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how the inverse correlation between bonds and stocks has returned, broadening the potential for risk-adjusted...

Economic Changes That U.S. Voters Want to See

15 Nov 2024

Contributed by Lukas

In this episode of PIMCO Pod, we delve into the economic risks, benefits, and uncertainties that have emerged in the wake of the recent election. The...

Trump’s Second Act: What to Expect 2025 and Beyond

12 Nov 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how even with Republicans poised to control the White House, the Senate, and the House of Representatives, sl...

Key Policy Questions Likely to Linger After the Election

06 Nov 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss policy uncertainties that could shape the U.S. economy. The discussion and content provided within this podc...

Mixed Signals: Assessing How Markets Might Respond to the U.S. Election

31 Oct 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the uncertainty surrounding the direction and magnitude of possible market reactions to the U.S. election. T...

PIMCO Cyclical Outlook - Securing the Soft Landing

10 Oct 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss the fixed income outlook which remains strong, as the U.S. Federal Reserve joins other central banks in cutti...

Starting With a Bang: Fed Cuts Policy

20 Sep 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss how the Fed is likely on a path to continue to cut rates over the next several meetings to realign monetary p...

PIMCO Perspectives - Cuts and Consequences

13 Sep 2024

Contributed by Lukas

In this episode of PIMCO Pod, we explore how balanced risks to inflation and employment indicate it’s time for the Fed to normalize interest rates, ...

Powell on Fed Policy Moves: The Time Has Come

27 Aug 2024

Contributed by Lukas

In this episode of PIMCO Pod, we explore Fed Chair Powell’s annual Jackson Hole speech, where he assessed the post-pandemic U.S. economy and suggest...

PIMCO Perspectives - Summer of Dispersion

08 Aug 2024

Contributed by Lukas

In this episode of PIMCO Pod, we explore the dispersion playing out across monetary policy and financial markets. The discussion and content provided...

PIMCO Real Estate Outlook - Facing the Music: Challenges and Opportunities in Today’s Commercial Real Estate Market

24 Jul 2024

Contributed by Lukas

In this episode of PIMCO Pod, we discuss findings from the firm’s second annual Global Real Estate Investment Forum, including secular trends across...