Pimco's Fels Says It's Too Early to Call an End to Bull Run in Bonds

The video discusses the potential for bond yields to go negative, as seen in Europe and Japan, and explores scenarios where U.S. treasury yields might approach zero or negative levels during a recession. It highlights the global saving glut and demand for safe assets, suggesting that despite challenges, there is still room for bonds to rally, especially in the U.S., during market downturns.

What factors are mentioned that could influence the bond market in the future?

How does the speaker view the potential for bonds to rally in the next market downturn?