Are markets (^DJI, ^IXIC, ^GSPC) beginning to realize the reality of higher-for-longer interest rates and price in a prolonged rate environment, or are they in for more pain as the Federal Reserve could extend their rate hold?
PIMCO Head of Short-Term Portfolio Management Jerome Schneider breaks down how markets are forecasted to react in the long-term to revised interest rate projections.
"We're seeing the markets really digest that we are going to have higher rates for longer, and in doing so, we are finding that risk assets generally have tolerated it. Yields have moved higher in calibration, expecting this higher for longer mantra, and investors really should begin to think what that means for their portfolios longer term," Schneider tells Yahoo Finance. "And ultimately, what we're finding here is that yields are relatively attractive, really attractive, compared to where we've been in the longer-term..."
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