At this year's PIMCO Secular Forum, the company's global executives set themselves the challenge of taking a three to five year view and anticipate where the market would be against what investors would be seeking.
They conclude that the bond market presents a compelling opportunity in the medium term; global debt will check central monetary options and modest growth rates will likely be balanced by low inflation.
They refer to this coming era as 'The New Neutral'. We invited Robert Mead, managing director and head of portfolio management at PIMCO Australia, to describe their thinking and the opportunities presented in this timeframe to give our readers the benefit of their insights.
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