Weekly View: The FOMC, G20 Meetings Could Set the Q3 Stage

Kick off the week with PGIM Fixed Income’s view from the desk, which offers a concise snapshot of macro trends, rates, emerging market debt and more. 

The Great “Hollowing Out” of the U.S. Job Market

June 2019

In assessing the strength of the U.S. labor market since the global financial crisis, it is important to consider the quality of the jobs that have been created. PGIM Fixed Income’s research finds that the jobs created through the current expansion have a distinct “barbell” feature consisting of a remarkable “hollowing out” of jobs in the middle of the income distribution.

Russia’s Path to Credit Strength Amid Biting Sanctions

May 2019

Given the state of the Russian economy and the uncertainties that lie ahead, PGIM Fixed Income analyzes how Russia has coped with biting sanctions imposed by the United States and the European Union, what might lie ahead in the coming months and years, and how this might affect its strong credit profile going forward.

2019 Q2 Capital Market Assumptions

May 2019

QMA’s Capital Market Assumptions provide 10-year forward-looking expectations for the most widely held equity, fixed income and non-traditional asset classes, measuring both return and risk. They underpin our long-run outlook for strategic allocations and multi-asset portfolios.

 

Countdown to Zero—The Final Chapters

May 2019

The recent reduction in global growth, inflation, and long-term interest rates occurred faster than we expected. Therefore, our prior, already-below consensus long-term interest-rate forecast appears too high. As the countdown to zero across the developed markets progresses (more in real terms in the U.S. and more in nominal terms in core Europe and Japan, for example), this paper looks at the factors that have continued to push the interest-rate equilibrium lower and the market implications of an even lower-for-longer rate environment.

The Outlook for Escalating Trade Tensions

May 2019

Recognizing that uncertainties regarding U.S./China trade tensions have multiplied, PGIM Fixed Income provides their perspective on recent developments, which are based on the question of: “what do we actually know?”

 

Frontier Case Study: Ecuador’s Path to Economic Sustainability

May 2019

This case study showcases PGIM Fixed Income’s investment approach to frontier markets, which includes a combination of macroeconomic fundamental analysis, insight into the political backdrop, and inferences from in-person discussions with key stakeholders.

2Q19 Outlooks and Reviews

2Q19 Outlooks and Reviews

While Global Growth Remains at Risk, Recession is Unlikely

Despite a shift in investor sentiment, global growth remains at risk. In the latest volume of quarterly outlooks, PGIM’s leading macroeconomic and investment experts share their insights on geopolitical risks, central bank dovishness, the potential rebound of the Chinese economy, and much more.

Transcript

First Hand Perspective on Sub-Saharan Africa 

May 2018 

As major central banks continue to withdraw policy accommodation, the sustainability of the external debt accumulated by frontier markets— particularly Sub-Saharan Africa—has come into question, prompting Giancarlo Perasso, Lead Economist, PGIM Fixed Income, to visit the region. In this video, Perasso provides his assessment of the fundamentals in Angola, Kenya, and Zambia and how our positioning aligns with these views.