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☆ Investors need to focus on reducing excess liquidity, says PIMCO's Jerome Schneider
▼ + stars: | 2023-05-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors need to focus on reducing excess liquidity, says PIMCO's Jerome SchneiderJerome Schneider, PIMCO managing director, joins 'Squawk on the Street' to discuss the limited signs of stress regarding default liability, how investors should position right now and what the credit markets are forecasting.

☆ Watch CNBC's full interview with PIMCO's Jerome Schneider
▼ + stars: | 2023-05-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with PIMCO's Jerome SchneiderJerome Schneider, PIMCO managing director, joins 'Squawk on the Street' to discuss the limited signs of stress regarding default liability, how investors should position right now, and what credit markets are forecasting.

☆ Watch CNBC's full interview with PIMCO's Richard Clarida on latest rate hike
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with PIMCO's Richard Clarida on latest rate hikeFormer Federal Reserve vice chair and PIMCO Global Economic Advisor Richard Clarida joins 'Closing Bell' to give his take on the Fed's latest rate hike, the regional banking sector, and what the central bank's next move might be.

☆ The fallout from empty offices is coming. Here's where investors could see the pain
▼ + stars: | 2023-04-14 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +12 min

As concerns about regional banks roiled markets, investors weighed another threat: commercial real estate. Also, layered on top of the property value pressure, are the tightening credit conditions brought on by the recent turmoil in the banking sector. There is no doubt this scenario is a toxic mix for the capital-intensive real estate industry. At the moment, many experts say the real estate market isn't causing trouble for banks, but fears about the financial system are likely worsening conditions in real estate because liquidity is being reduced. The biggest concern is seeing how many other companies join Brookfield , Blackstone and Pimco in handing back the keys on office properties, Clancy said.

☆ Fed will hike rates once more before banking sector stress shows: PIMCO's Wilding
▼ + stars: | 2023-04-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed will hike rates once more before banking sector stress shows: PIMCO's WildingTiffany Wilding, PIMCO North American economist and managing director, joins 'Squawk on the Street' to discuss how the Federal Reserve is receiving recent economic data, PIMCO's recession odds and more.

☆ Watch CNBC's full interview with PIMCO's Tiffany Wilding
▼ + stars: | 2023-04-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with PIMCO's Tiffany WildingTiffany Wilding, PIMCO North American economist and managing director, joins 'Squawk on the Street' to discuss how the Federal Reserve is receiving recent economic data, PIMCO's recession odds and more.

☆ Money market funds can be a fools game in the long run, says Pimco's Tony Crescenzi
▼ + stars: | 2023-04-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMoney market funds can be a fools game in the long run, says Pimco's Tony CrescenziTony Crescenzi from Pimco and Darrell Cronk from Wells Fargo join 'Closing Bell Overtime' to discuss expectations for the Fed's balance sheet release, opportunities in the bond market, and credit quality exposure.

☆ The market is appropriately discounting risk in smaller cap companies, says Pimco's Erin Browne
▼ + stars: | 2023-03-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is appropriately discounting risk in smaller cap companies, says Pimco's Erin BrownePimco's Erin Browne joins 'Closing Bell' to discuss investment in high quality defensive stocks, Chinese stocks fueled by reopening, and a bifurcation in the market.

☆ Watch CNBC's full interview with PIMCO's Libby Cantrill
▼ + stars: | 2023-03-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with PIMCO's Libby CantrillLibby Cantrill, PIMCO head of public policy, joins 'The Exchange' to discuss the policy impacts of the SVB hearing, the Fed's ability to guarantee uninsured deposits, and the issues around bank runs and solvency.

☆ Watch CNBC's full interview with former PIMCO's Paul McCulley
▼ + stars: | 2023-03-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with former PIMCO's Paul McCulleyPaul McCulley, former PIMCO chief economist and Georgetown professor, joins 'Squawk on the Street' to discuss his thoughts on the Fed and rate hikes.

☆ Capitol Hill lacks unanimity about expanding bank regulation: Pimco's Libby Cantrill
▼ + stars: | 2023-03-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCapitol Hill lacks unanimity about expanding bank regulation: Pimco's Libby CantrillLibby Cantrill, PIMCO head of public policy, joins 'The Exchange' to discuss the policy impacts of the SVB hearing, the Fed's ability to guarantee uninsured deposits, and the issues around bank runs and solvency.

☆ 'Bond Kings' Bill Gross and Jeffrey Gundlach predict an imminent US recession as surging interest rates strangle growth
▼ + stars: | 2023-03-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Bill Gross and Jeffrey Gundlach expect higher interest rates to hammer growth in the near future. Bond yields signal investors' expectations for growth, inflation, and interest rates in the months and years ahead. The central bank is betting that higher rates will make borrowing more costly and encourage saving over spending, cooling price growth. He also declared in February that stocks are likely to underperform for a while, as higher rates are a drag on company valuations. Gross has previously jabbed at Gundlach over their shared nickname, labeling him the "self-anointed 'bond king'" in an October outlook.

☆ These 10 funds had over $100 million each in Credit Suisse bonds — which are now worth nothing
▼ + stars: | 2023-03-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

A number of funds could be facing over $100 million in losses on their Credit Suisse investments after the lender's forced merger with its rival UBS . The funds face losses on Credit Suisse's additional tier-1 bonds (AT1), according to CNBC Pro analysis, after Swiss regulators deemed them worthless as part of the emergency merger . The Swiss regulator FINMA saw the merger between Credit Suisse and UBS as a trigger event to write down 16 billion Swiss francs ($17 billion) worth of the bonds. The following table shows the funds that held AT1 bonds with a par amount of at least $100 million each as of Mar. About 80 funds run either directly by PIMCO or one of its affiliates, held Credit Suisse AT 1 bonds, according to CNBC's analysis.

☆ PIMCO lost $340 mln with Credit Suisse AT1 bonds write-off - source
▼ + stars: | 2023-03-21 | by ( Davide Barbuscia | ) www.reuters.com time to read: +2 min

Credit Suisse's (CSGN.S) Additional Tier 1 (AT1) bonds in PIMCO’s mutual funds had been worth about $340 million on Friday, the source familiar with the matter said. PIMCO's current holdings of Credit Suisse bonds, excluding the AT1 debt, were worth over $4 billion, said the source, who was speaking on condition of anonymity. Some Credit Suisse bonds rallied on Monday after the state-backed rescue of the embattled lender. AT1 bonds issued by other European banks, instead, fell sharply on Monday as the treatment of Credit Suisse AT1 bondholders highlighted the risks of investing in these securities. Meanwhile, law firm Quinn Emanuel Urquhart & Sullivan said it was talking to a number of Credit Suisse AT1 holders about possible legal action.

☆ Fed likely to raise rates by 25 bps, with eyes on banks -PIMCO's CIO
▼ + stars: | 2023-03-16 | by ( Davide Barbuscia | ) www.reuters.com time to read: +3 min

But as the European Central Bank hiked rates by 50 basis points on Thursday, the U.S. central bank was expected to press on with a quarter-point interest-rate hike despite the banking sector turmoil. "They're going to be watching signs of more instability across the financial sector very carefully," Ivascyn told Reuters. "There certainly are scenarios where they pause, it'll likely be a hawkish pause if it's a pause, but our current thinking is they go 25." Ivascyn said he expected market volatility around banks to continue over the next few months with some "isolated areas of weakness," but said the global banking sector was well capitalized compared with the 2008 global financial crisis. "There are going to be weak links within the financial sector and within the credit sector more broadly," said Ivascyn.

☆ Silicon Valley Bank imploded in a single day. It could just be the tip of the iceberg.
▼ + stars: | 2023-03-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +8 min

The Federal Reserve's prolonged period of low interest rates created many financial dislocations that are now flaring up. Case in point: Silicon Valley Bank imploded in a single day after surging interest rates caused it to sell a bond portfolio at a huge loss. The chaotic episode showed that the Fed's aggressive interest rate hiking regime could upend institutions that were once thought to be relatively stable. Since the Fed started raising interest rates in March 2021, bitcoin — formerly a highly touted inflation hedge — has plunged more than 65%. "Investors, smelling blood, then turn their attention to the next bank exposed to interest rate risk and specific credit risk, and then the next."

☆ PIMCO's Libby Cantrill calls Biden's budget proposal 'DOA' to Congress
▼ + stars: | 2023-03-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPIMCO's Libby Cantrill calls Biden's budget proposal 'DOA' to CongressLibby Cantrill, PIMCO head of public policy, joins 'The Exchange' to discuss Biden's 2024 budget plan.

☆ The market's not pricing in the fact that Fed tightening still has a way to go, says PIMCO's Erin Browne
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market's not pricing in the fact that Fed tightening still has a way to go, says PIMCO's Erin BrownePIMCO's Erin Browne joins CNBC's 'Closing Bell' to discuss a volatile day for the markets and where she sees things headed in the second half of the year. With CNBC's Mike Santoli.

☆ Thoma Bravo and Clearlake have posted negative returns for a major endowment, according to exclusive performance data. Middle-market firms have been much stronger.
▼ + stars: | 2023-02-21 | by ( Rebecca Ungarino | Ben Bergman | ) www.businessinsider.com time to read: +5 min

The returns show losses from Thoma Bravo and Clearlake, though the funds are new and PE is a long game. Thoma Bravo and Clearlake Capital Group, two private-equity firms that have emerged as notably active investors in recent years, have posted early losses across some of their funds, according to investment returns from a major US endowment. UTIMCO invested $51.7 million in Clearlake's seventh flagship private equity fund, known as Clearlake Capital Partners VII, which closed with some $14 billion of commitments last May. Thoma Bravo declined to comment. Meanwhile, the data show high returns from CapRock Partners, Renovus Capital Partners, Serve Capital Partners, and LFM Capital, PE firms that target middle-market companies.

☆ PIMCO's Libby Cantrill: Too early to be talking about U.S. government debt defaults
▼ + stars: | 2023-01-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPIMCO's Libby Cantrill: Too early to be talking about U.S. government debt defaultsLibby Cantrill, PIMCO head of public policy, joins 'Squawk Box' to discuss the debt ceiling negotiations, if the debt limit's a market event and more.

☆ Private venture-capital returns from one of the largest endowments reveal Union Square Ventures has been wildly successful. Sequoia and Y Combinator have lost money so far.
▼ + stars: | 2023-01-23 | by ( Ben Bergman | ) www.businessinsider.com time to read: +6 min

USV's 2004 fund returned more than $305 million in cash from a $22 million UTIMCO investment, with an IRR of 66%. Thrive Capital, the venture firm Joshua Kushner founded in 2009, has delivered -34% IRR on two funds from late 2021. UTIMCO's $6.7 million invested has been marked down to $4.6 million. Two funds UTIMCO invested in the VC firm Initialized at the beginning of 2022 have a -5.5% IRR. Upfront Ventures, the most prominent early-stage firm in Los Angeles, has returned only $31 million though UTIMCO invested $110 million since 2015.

They projected their key policy rate would top out at between 5.00% and 5.25% this year, up from a current 4.25%-4.50% rate. Market pricing indicates investors remain wedded to a more dovish view, with the policy rate peaking below 5% around mid-June before falling in the second half of the year. Rieder believes policymakers will raise rates by 25 basis points at the next two meetings, with further 25 basis point increases possible, depending on data. Investors in short-term options had priced in a much sharper move of about 2% going into Thursday's CPI print, according to data from market maker Optiver. Tiffany Wilding, PIMCO's North American economist, believes the Fed is likely to raise rates just two more times this year before pausing.

☆ Short-term bonds singaling 'siren song of safety' for investors, says PIMCO's Jerome Schneider
▼ + stars: | 2023-01-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShort-term bonds singaling 'siren song of safety' for investors, says PIMCO's Jerome SchneiderJerome Schneider, PIMCO managing director, joins 'Power Lunch' to discuss bonds and yields and the rising in interest rates.

"I think that this is going to be the most contentious debt ceiling debate in memory," Winograd said. "It would suggest that there's some type of premium being allocated to bills in that space where the risk of the debt ceiling starts to grow," Norris said. Some investors also believe lawmakers will be able to reach a deal on raising the debt ceiling without severely unsettling markets. Edward Al Hussainy, senior interest rate and currency analyst at Columbia Threadneedle, thinks any debt ceiling tensions would eventually be resolved, calling the issue "a well rehearsed storyline." However, the heightened concerns about the debt ceiling are "an extra little justification on top" for the firm's positioning, Pride said.

☆ China's reopening will be a tailwind for the luxury trade, says PIMCO's Erin Browne
▼ + stars: | 2023-01-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's reopening will be a tailwind for the luxury trade, says PIMCO's Erin BrowneErin Browne, PIMCO portfolio manager, joins 'Closing Bell: Overtime' to discuss international stocks surging and expectations for the markets after a possible China reopening.

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