Pimco CIO Urges Caution on 2024 Rate Cut Expectations as Inflation Remains High
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Pimco CIO Ivascyn warns bond market risks leaning too heavily toward 2024 rate cuts as inflation problem remains.
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Ivascyn says "risk of too much enthusiasm" around rate cuts next year as inflation far from Fed's 2% target.
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Cautions against overreacting to short-term inflation numbers, inflation may not go away quickly.
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Ivascyn ready to trim interest rate exposure if bonds rally too far, after letting exposure rise.
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Pimco taking 2-3 year outlook, sees short term as "noise", focused on meaningful economic weakening before rate cuts.