Pimco Calls for Bond Rally in 2024 After Bullish Forecast Crumbled This Year
- Bond manager predicts ‘prime time’ versus overpriced stocks
- Call is based on historical analysis of yields, P/E ratios
Pacific Investment Management Co. headquarters in Newport Beach, California.
Photographer: David Swanson/BloombergThis article is for subscribers only.
Bond giant Pacific Investment Management Co. — among the many whose expectations for a rally this year were disappointed — is renewing the call for 2024.
Bonds “have rarely been as attractive as they appear today” relative to stocks, Pimco managers Erin Browne, Geraldine Sundstrom and Emmanuel Sharef say in a new report predicting “prime time” for the asset class in 2024.