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PIMCO Cyclical Outlook: Bounded Optimism on the Global Economy
PIMCO has published its global economic outlook for the next 6-12 months.
In Cyclical Outlook: Bounded Optimism on the Global Economy, the authors Joachim Fels, PIMCO Global Economic Advisor, and Andrew Balls, PIMCO Chief Investment Officer of Global Fixed Income, write: “Vaccinations and fiscal support should lift the global economy in 2021, but several risks call for careful portfolio positioning.”
Summary:
Global output and demand are likely to rebound strongly in 2021, driven by the rollout of vaccines and continued fiscal and monetary policy support. Inflation should creep up only moderately in 2021. Central banks’ policy rates are likely to remain low, and asset purchases will likely continue.