Global cycles have fallen out of sync, and the gaps between markets are widening. PIMCO CIO of Global Fixed Income Andrew Balls says that's the exact type of environment where global active management matters most.
Why different parts of the yield curve look attractive in different markets, and how active management can isolate duration by country and by tenor
Why fixed income can serve as both a diversifier to offset volatility and a source of alpha
What AI dominance in the U.S. and China, German defense spending, and other country-specific shifts mean for global bonds
Show notes:
[9:59] The thesis of Rupture and Resilience
[15:43] Politics driving economics in Japan, the U.K., and Europe
[30:47] The AI supercycle in Europe vs. the U.S.
[36:13] The investment implications of rearming Europe
[40:51] Europe and the global energy complex
[43:42] Making the case for global fixed income
If you enjoyed the episode, check out more of our resources on global fixed income:
Podcast: Old-Fashioned Bond Math for a New-Fashioned Fed (Apple or Spotify)
Read: Rupture and Resilience
Watch: Why Global Bonds Matter Now
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