- Noting the FOMC "dots" point to expectations for 1.5-2% real rates and 3.5-4% nominal ones, Pimco CEO Douglas Hodge says his team "simply does not adhere to this view. We do not see the catalyst for growth across the global economy that will support this rate structure."
- The world economy, he says, is faced with the "three Ds" - debt, deficit, and demographics. "With aging populations, there seems to be a tipping point where creating organic growth becomes increasingly difficult."
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