Pimco's Crescenzi Says 'Don't Reach So Much' on Yields

The video discusses PIMCO's economic outlook, expecting a soft landing that may be harder than anticipated. It covers strategies for total return portfolios, emphasizing quality and caution in high yield bonds due to potential credit spread widening. The importance of not taking excessive risks for good yields is highlighted.

What is the significance of credit spreads in the context of a recession?

What does the speaker mean by 'keeping your powder dry' in investment strategy?