The global economy has started to recover from the sharpest but also shortest recession of modern times. With the economy transitioning from hurting to healing as envisaged in our April 2020 Cyclical Outlook, PIMCO's investment professionals from around the globe gathered by video in early June to update our cyclical outlook and discuss the strategy implications. This post summarizes the economic and policy outlook - stay tuned for a forthcoming midyear update of our asset allocation outlook.
Down the elevator, up the stairs
Rather than looking back at the vertiginous drop in economic activity that