The “Fragmentation Era” is here (see our recent Secular Outlook piece), as trade barriers, geopolitics, and domestic fiscal dynamics lead global markets down increasingly divergent paths. Here to help us cut through the noise and find the signal, once again, is Dan Ivascyn, PIMCO’s Group CIO. Dan joined us at the start of the year, and we were thrilled to check in with him as we approach the midpoint of 2025. He provides a rundown of what’s changed—and what hasn’t—over the tumultuous intervening months, and shares his insights on where the economy, markets, and investment opportunities may be headed.
Part 1 - From January to Now - An Evolving Investment Paradigm
Part 2 - The State of U.S. Fiscal Sustainability
Part 3 - Economics Fundamentals and the Big Beautiful Bill
Part 4 - Credit - Avoid Complacency and Look to Consumers
Part 5 - Don’t Overcomplicate Liquidity
Part 6 - Conclusion: What is the Opportunity Set Today?
Related Resources:
Latest insights from PIMCO’s industry-leading experts, including Rich Clarida, Tiffany Wilding, and Libby Cantrill.
Our Cyclical Outlook – looking out 6-12 months: Seeking Stability
Our Secular Outlook – looking out 3-5 years: The Fragmentation Era
Take a look at PIMCO’s Behavioral Science Edge
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