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PIMCO's Kashkari: Corporate Profits to Remain Strong
Posted by: Dheeraj Grover (IP Logged)
Date: July 7, 2012 11:52AM
Pimco's Neel Kashkari talks about the corporate profits and the economy. He talks about the June U.S. employment report, earnings and the economy. Niel played in key role in putting together the TARP bailout package for banks during the peak of financial crisis and was assistant Secretary of Treasury under Hank Paulson
Here is what he said:
In the near term corporate profits will stay strong but PIMCO is watching the global slowdown very closely because that will determine the future course for corporate profits. He thinks that cost of labor will stay low (bad job market), corporate taxes should stay low and these factors will keep the corproate margins strong in the near term.
He said PIMCO is not forecasting a global recession neither they are forecasting a US recession they are forecasting a slow global muddle through economy
He is investing in companies who are a bit more shielded from this coming global slowdown. Companies which will still do well even when consumer is pinching pennies. Companies like Walmart (WMT), Spirit Airlines (SAVE), Merck (MRK)
Here is the video:
Stocks Discussed: WMT, MRK, SAVE,
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