Pimco’s Crescenzi Says Bonds Still Have a Place in a 60-40 Split

The video discusses the Federal Reserve's new definition of maximum employment, emphasizing its broad and inclusive nature. It explores the dynamics of the bond market, focusing on yield curves and bond math, and highlights the impact of rising real yields on various markets. Despite the rise in real interest rates, financial conditions remain loose, suggesting that yields could increase further before affecting other assets.

What does the rise in real yields indicate about the current financial conditions?

Discuss the implications of rising real yields on equity markets.

What factors should be monitored to understand the impact of rising yields on other assets?