It’s time to say goodbye to TINA

Daniel Ivascyn  |  PIMCO  |  22 February 2023

The pre-pandemic New Normal decade of subpar-but-stable economic growth, below-target inflation, subdued volatility, and juicy asset returns has faded in the rear view mirror. That environment introduced investors to TINA - there is no alternative. They were forced out the risk spectrum from government bonds, to corporate credit, to equities and beyond, while bonds’ diversifying characteristics came into question But after facing difficulties on all fronts in 2022, investors should be rewarded with more opportunities ahead, even as the global economy confronts headwinds. With interest rates and bond yields ...

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