In this Australian Retirement Podcast episode, your host Mitchell Sneddon sits down with Mark Kiesel, PIMCO’s Chief Investment Officer of Global Credit. Together, they discuss: - Why now could be a generational opportunity for bond investors - Mark’s outlook on inflation, interest rates and the global economy - PIMCO’s $2 trillion advantage and how it creates alpha in credit markets - What airlines and housing trends are saying about the next economic slowdown If you like this Australian Retirement Podcast episode, you'll love the series. Don't forget to subscribe for weekly shows on Apple, Spotify, YouTube or wherever you get your podcasts. Follow us on Instagram and TikTok for more investing insights. Topics Covered - Mark’s visit to Australia and on-the-ground insights - How PIMCO’s massive scale drives bond market advantage - His famous 2006 call to sell his home pre-GFC - Why inflation is likely to fall and bond markets may rally - The “slimming down” theory and macroeconomic signals - What airlines, autos and housing are telling us about sentiment - Mark’s contrarian outlook and long-term investing mindset Resources for This Episode 📄 Learn More About Bond Investing & PIMCO’s Views: Opportunity Amid the Noise - Interview with Dan Ivascyn https://www.pimco.com/au/en/resources/video-library/media/opportunity-amid-the-noise The “Magnificent 7” Reasons Why Now is a Good Time to Invest in Core Bonds https://www.pimco.com/au/en/insights/the-magnificent-7-reasons-why-now-is-a-good-time-to-invest-in-core-bonds ~~ Rask Resources ~~ 🔗 Explore all Rask services – https://bit.ly/R-services 📋 Get Financial Planning – https://bit.ly/R-plan 📈 Start investing with Rask – https://bit.ly/R-invest 📜 Access Show Notes – https://bit.ly/R-notes ❓ Ask a question – just select the Investors Podcast – https://bit.ly/R-quest 📲 Follow us on social media: Instagram: @rask.invest TikTok: @rask.invest DISCLAIMER This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. You should consider if the information is appropriate for your situation before acting on it. If you’re unsure, consult a licensed financial planner. The Rask Group is NOT a qualified tax accountant, financial adviser, or tax professional. You can access The Rask Group’s Financial Services Guide (FSG) here: https://www.rask.com.au/fsg. #Investing #Finance #AustralianInvestorsPodcast #Bonds #PIMCO #MarkKiesel Timestamps: 0:00 Introduction 1:26 What does the role of Chief Investment Officer of Global Credit for a $2T fund manager look like? 2:43 Evolution of PIMCO over the 28 years Mark has been with the company 3:40 What drove Mark Kiesel to sell his house in 2006? An example of Mark’s out of consensus thinking 5:50 Mark’s contrarian approach to bond investing, sell when everyone is buying and buy when everyone is selling 6:20 Companies are the leading indicator and they are telling Mark that growth has peaked. We are now “slimming down”, we got “fat on fiscal”. 7:15 Mark’s view on inflation coming down and interest rates coming down in the US leading to a bond market rally 8:10 Evidence of slowing growth in the US economy and the slow down in confidence 11:15 Trump is a disrupter, how he is breaking things and “uncertainty is certain” 12:40 What does this Trump disruption and policies mean for credit markets and why they think bonds in this environment are incredibly attractive 15:05 What areas are PIMCO avoiding and where are they seeing opportunities? 16:25 What is Mark’s outlook on China? 17:18 Where is the new bond issuance coming from and why Mark sees 7-8% returns going forward 19:34 Chances of a recession increasing - which should be a positive time for bonds 21:15 What gives certain bond managers a performance edge over others 24:10 Is there a benefit to active management in bond ETFs and how do they compare to the passive equivalent 26:03 What does being on the Google Investment Advisory Committee involve? 25:15 How should the Australian investor be thinking about investing given the picture Mark has painted? 31:10 What would you tell your younger self about investing, business or life?