Bond fund giant Pimco prepares for ‘harder landing’ for global economy

Financial Times/Mary McDougall and Kate Martin/7-1-2023

“This could be more of an old fashioned cycle that lingers for a few years with inflation high but policymakers don’t come to the rescue.” – Daniel Ivascyn, chief investment officer, Pimco

USAGOLD note: Sounds like Pimco is worried about a 1970s-style stagflation. According to FT,  the fund has become more defensive, more liquid.