Pimco's Fels Sees Value Emerging in Credit But Says It's Not Yet Time to Buy

The transcript discusses the shift in recession risks from consumer to corporate balance sheets, highlighting PIMCO's cautious approach to corporate credit due to concerns about leverage and economic slowdown. Despite some emerging value in the market, PIMCO remains underweight, waiting for better opportunities as spreads widen.

What concerns are associated with cyclical companies and their debt levels?

Why is it considered too early to invest back into corporate credit?