Pimco Says Invest Like It's Late Cycle, Not End of Cycle

The video discusses the current market framework, highlighting the low probability of a recession in the next 12 months despite global economic slowdown. It emphasizes the importance of investing in high-quality, liquid assets and avoiding speculative sectors. The discussion covers regional investment biases, suggesting caution in emerging markets and a focus on defensive sectors in the US. Specific investment opportunities are identified in the US midstream MLP sector, UK banks, and Chinese property developers. The video also advises caution in the leveraged loan market due to falling underwriting standards.

What are the identified pockets of opportunity for investment mentioned in the text?

What is the speaker's view on the leveraged loan space and the associated risks?