If you're hoping interest rates will fall anytime soon, you're out of luck, says $1.8 trillion financial titan
After a bruising 18 months for the economy, investors had hoped the dreamy days of low inflation and interest rates were just around the corner.
With inflation dipping last month and the stock market booming, there's growing hope that the US couldNot so fast, says one mammoth investor who believes interest rate cuts are still some way off – while a"hard landing" very much remains a possibility. , Pimco's chief investment officer, Daniel Ivascyn, said investors were likely to be disappointed by the pace at which central banks like the Federal Reserve can bring down their base rates.
Pimco manages assets worth $1.8 trillion – a bit smaller than the size of the entire UK economy. But its funds have typically underperformed the broader S&P 500 this year.
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