The Credit Edge by Bloomberg Intelligence
Pimco Likes Cruise Lines, Bank Bonds in Tariff Turmoil
Feb 20, 2025
Sonali Pier, a portfolio manager at PIMCO, shares insights from her role at the $2 trillion asset manager. She highlights the attractive debt opportunities in U.S. banks and leisure sectors, particularly cruise lines, amidst current economic turbulence. Caution surrounds retail and auto industries, especially in Europe. The discussion also touches on strategies for navigating creditor conflicts during borrower distress, valuing private debt, and exploring asset-based finance opportunities, all while emphasizing the importance of credit quality in uncertain markets.
45:43
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Quick takeaways
- Pimco identifies value in cruise lines and bank bonds amidst trade wars and geopolitical risks, while remaining cautious on retail and auto sectors.
- The podcast emphasizes the need for strategic credit selection in fixed-income investments to navigate potential economic volatility and risks.
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