If there’s one thing PIMCO is stressing to its clients right now, it’s caution.
The $1.6 trillion item manager doesn’t see another mercantile retrogression happening just yet. But with low marketplace sensitivity and many economies around the universe flourishing steadily, there’s an open doorway for relief to climb in.
“While the stream macro sourroundings and opinion seem better than many of the younger marketplace participants can remember, the last time a identical multiple prevailed was in 2006 – and that didn’t finish well,” wrote PIMCO’s Joachim Fels and Andrew Balls in their opinion for the next 6 to 12 months.
The following slides puncture a little deeper, with pointers to some specific areas that investors should beware.
Thanks toPIMCO for giving us permission to underline this presentation.