Pimco's Balls Says U.S. Rate Risk 'Attractive' Vs. World

The video discusses the impact of zero interest rates and the Federal Reserve's successful exit from this policy. It highlights the positive US economic outlook and the challenges posed by global economic conditions. The divergence in interest rates between the US and Europe is examined, with a focus on European bonds and Brexit uncertainty. The video concludes with a discussion on the normalization of monetary policies by the ECB and BOJ, and the implications for global financial markets.

What is the current state of European government bonds as described in the text?

What does the text imply about the normalization of monetary policy conditions globally?