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The spread of COVID 19, volatile financial markets, new historical lows for U.S. bond yields, and a rare intermeeting rate cut by the Federal Reserve made for a highly unusual backdrop for PIMCO's quarterly Cyclical Forum in early March.
With uncertainty about whether and when the spread of the coronavirus can be contained, risks and disruptions to human lives now in many nations, central banks and governments in motion, and markets volatile, our discussions in the Investment Committee and in our regional portfolio committees will continue in the coming days and weeks. As usual, we