In early May we gathered our global team of investment professionals in Newport Beach for PIMCO's 38th annual Secular Forum. With input from invited speakers (see Our Process section, below) as well as our Global Advisory Board and other consultants, we zoomed in on several key secular drivers that have the potential to significantly disrupt the global economy, financial markets, and investors' portfolios over the next three to five years, and discussed how investors can deal with disruption. Here's what we concluded.
What's priced in?
Any consideration of the outlook for macro and markets has