Bloomberg Businessweek The 28th Annual Milken Institute Global Conference: Day 2
May 6, 2025
Manny Roman, CEO of PIMCO, delves into market disruptions, offering strategies for navigating volatility in bonds and investments. Armen Panossian, Co-CEO of Oaktree Capital, shares keen insights on credit spreads and the dynamics of private credit amidst economic uncertainty. Together, they discuss the importance of the U.S. treasury market, the shifting investor sentiment shaped by geopolitical events, and the intricate partnerships between larger corporations and private credit managers.
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High Tariffs Demand Supply Chain Overhaul
- Prolonged high tariffs require companies to reevaluate supply chains and cost structures extensively.
- This scenario fosters portfolio optimization by assessing macroeconomic parameters to find attractive asset prices.
Embrace Volatility for Alpha
- Embrace market volatility as it offers investment opportunities and alpha generation.
- Diversify by investing in non-U.S. assets, hedging currency risks strategically.
U.S. Treasury as Global Safe Haven
- The U.S. dollar and its treasury market remain cornerstone safe havens despite criticism.
- The liquidity and reserve status of U.S. assets deter substantial diversification away from the dollar.