Global Macro Matters: What's Up With Global Inflation?
In the first of a series, author Nathan Sheets, PhD outlines a compelling case for inflation expectations to be low, stable, and well anchored. This means that investors have good empirical reasons both for requiring low inflation compensation for holding bonds and for demanding relatively small compensation for inflation risk.
PGIM Fixed Income - China: The Next Five Years
With China’s 19th Communist Party Congress set to commence, investors are turning their attention to the outlook for the next five years. We provide our views on the first five years of President Xi’s term–highlighting what we consider to be some misperceptions among market participants–and set out our base case for economic policy going forward.
PGIM Fixed Income - The Moving Goalposts of European Bank Failures
Recent bank failures in Spain and Italy have tested the Eurozone’s bail-in regime and demonstrated that its application remains a moving target with broad ramifications for bondholders throughout the capital structure.
PGIM Real Estate - Global Outlook: Looking Beyond the Cycle
In our latest Investment Research paper, we look beyond the cycle to assess values we are seeing today in a long-term context. Our analysis of the global property risk premium suggests that pricing looks sensible in a long-term context and offers decent protection against a moderate increase in interest rates.