The new monetary order, with PIMCO's Tony Crescenzi
Australian Investors Podcast
Why Starting Yield Predicts Future Returns
Tony explains historical data showing starting yield largely determines five-year rolling returns for bond indices.
In this Australian Investors Podcast episode, your host Owen Rask speaks with Tony Crescenzi, Executive Vice President and Market Strategist at PIMCO, to discuss:
– Why defensiveness is PIMCO’s current strategy
– The lessons from over four decades in markets
– The concept of a new global monetary order
– Where bonds fit for modern Australian investors
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Topics Covered
– Tony’s best non-financial investment & personal reflections
– What he looks at each morning to gauge markets
– Where this moment ranks in terms of global dislocation
– Insights from his books and what his next one might be
– Tariffs as a historic experiment & biggest market risks
– How he thinks central banks will respond next
– The “new global monetary order” and how it’s unfolding
– Revising the 10-year yield: what’s changed?
– How PIMCO expresses a defensive framework in portfolios
– Advice for Aussie investors with equity-heavy portfolios
– The future of the 60/40 portfolio model
– Why Crescenzi maintains optimism amid macro uncertainty
– AI’s potential impact on bond investors & PIMCO
– What gives Tony hope and perspective as a long-term investor
– What Tony would tell his younger self about markets and life
Resources for This Episode
Learn more about PIMCO’s outlook and strategies
Ask a question (select the Investors podcast)
Rask Resources
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Instagram: @rask.invest
TikTok: @rask.invest
DISCLAIMER:
This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg
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