Pimco's Fels Says It's Not the Time to Sell Bonds as Yields Are Headed Lower

The transcript discusses the current state of Treasurys and bonds, highlighting their reduced risk mitigating characteristics due to recent market rallies. It explores the possibility of negative yields in Europe and the U.S., noting that while the Fed is unlikely to go negative, treasury yields might. Despite reduced long-term value, bonds can still serve as diversifiers in portfolios. The speaker advises against selling bonds now, given the Fed's potential actions like going to zero interest rates or restarting asset purchases, which could lead to lower bond yields in the near term.

What are the current risk mitigating characteristics of Treasurys according to the text?

How does the speaker view the future of Treasury yields?

In what way can bonds still act as a risk mitigator in portfolios according to the speaker?

What does the speaker suggest about the timing of selling bonds?

What factors does the speaker mention that could influence bond yields in the near term?