Pimco doubts U.S. will enact infrastructure spending, welfare reform in 2018

"While infrastructure was a key theme during the 2016 campaign and has strong support among Democrats on Capitol Hill, as of now, we do not see significant traction being made in 2018," Cantrill wrote in a blog post.

"We are similarly skeptical we will see anything meaningful passed on welfare reform," she added.

(Reporting by Richard Leong; Editing by Cynthia Osterman)