Pimco's Kiesel Urges Credit Investors to Be More Defensive, Selective

The video discusses the current state of corporate credit markets, emphasizing the need for a defensive and selective approach due to increasing credit risk and a slowing global economy. It highlights the impact of the US-China trade war on economic growth and capital spending, and the challenges faced by sovereign bonds with negative yields. The discussion also covers the comparison between credit and duration risk, and the potential headwinds for the high yield sector due to unresolved trade tensions.

What does the speaker suggest about the need for a defensive posture in credit markets?

What are the implications of negative yielding debt for investors according to the text?

What conditions does the speaker believe are necessary for high yield investments to become attractive again?