Post by PIMCO

2026 isn’t 2022. Starting conditions matter. In 2022, energy shocks hit when yields were ultra low and real rates deeply negative. Today looks very different. Yields are higher, policy is tighter, and post pandemic demand and labor pressures have eased. Even with recent volatility, longer term yields have stayed relatively contained, underscoring why today’s environment isn’t a replay of 2022. Learn more: https://pim.co/b9a67d