🔥 PIMCO: the world is "rupturing" — and markets are underpricing it

A 5-year outlook from former Fed Vice Chair Richard Clarida: up to $14T flowing into AI and defense, a returning wave of defaults, a U.S. equity risk premium near zero — and bonds that, for the first time in years, pay like stocks (5–7%).
Full breakdown with charts in the PDF 👇

[#macro](/tag/macro) [#PIMCO](/tag/PIMCO) [#bonds](/tag/bonds) [#recession](/tag/recession)