TIPZ News and Press, PIMCO Broad U.S. TIPS Index Exchange-Traded Fund From 02/21/22

From a monetary perspective, the U.S. faces a gigantic, two-sided problem: a huge surplus of money and a lack of demand for all that money. Inflation expectations have now reached their highest point since the introduction of TIPS in 1997: 2.9%. I will be pleased if the Fed become...

Non-U.S. markets, including EM, DM, and Asia, are outperforming the U.S. markets after underperforming last year. After slightly underperforming growth last year, value is where the money is flowing. With the economy still in growth mode, cyclical stocks should do better than defe...

Geopolitical headlines will have helped, but front-end rates have more reasons to ease back from extremes. In the US, the Fed mulling MBS sales offers an alternate tightening avenue, and in the UK, the BoE's pushback against aggressive pricing should find a more prominent platform nex...

A lot of the heavy lifting of inflation protection comes more at a corporate level. Yields and treasuries are incredibly low. To participate in a market that should be reasonable as we go forward, but also defend against the risks of inflation that all of us are facing nowadays. ...

The bond market is still in a very confused state as the government and many high-grade companies can borrow at rates that are below the rate of inflation. Furthermore, the financial markets are in so much disorder now that any "tentative" Fed actions to stem inflation will fall far s...

All assets except commodities suffered losses in January 2022. The world is concerned about inflation. It is not transitory. Fighting inflation hurts the stock market. So does not fighting. For further details see: January Investment Losses Are Just The Beginning

The expected risk premium for the Global Market Index edged down in January from the previous month’s estimate. Using short-term momentum and medium-term mean-reversion market factors to adjust the forecast reduces GMI’s ex-ante risk premium to an annualized 5.4%. Th...

Popular measures of inflation such as the CPI and the PPI are backward-looking, but the financial markets are always trying to look forward. An implication is that prices in the financial markets are influenced to a far greater degree by changes in the expected future CPI (inflation e...

Per the Fed’s November 2021 estimates for Industrial Production in the United States, American domestic crude and natural gas output continues to be constrained. And not by a little. Compared to the prior peak way back almost two years ago, the amount of overall energy pulled o...

As we look ahead to 2022, our base case is for positive global growth and elevated inflation in the near term. Though we see inflation moderating during the year, there are upside risks to our forecast. We believe growth assets, such as equities and credit, will tend to deliver positi...