PGIM Strategic Bond Fund Q1 2026 Commentary (PUCZX)
PGIM Investments·2026-06-24·via All Articles on Seeking Alpha
Summary
Since the start of the conflict in Iran, the main focus has been the shock to energy prices, resulting from the closure of the Strait of Hormuz.
For the U.S., PGIM has revised its base case economic scenario over the next 12 months from “Muddle Through” to “Overheating.”.
The ECB consequently hikes in June and again in September, taking the deposit rate to 2.5%.
The PGIM Strategic Bond Fund underperformed its benchmark, the Bloomberg U.S. Intermediate Aggregate Bond Index, on a gross basis.
AlexSecret/E+ via Getty Images
Market Review
Coming into 2026, investors spun a comfortable narrative that a gradually slowing global economy caused by a weakening labor market would elicit moderate policy accommodation. Since the start of the conflict in Iran, the main focus
