Pimco's Kiesel Says Bonds Are Starting to Get Exciting

The video discusses the impact of higher interest rates on economic growth, driven by fiscal stimulus, which is expected to increase real growth from 2% to 2.5%. It highlights inflationary expectations and the need to finance fiscal deficits through increased Treasury issuance. The market has seen significant movements, with a notable rise in 10-year yields. The discussion shifts to the bond market, which is becoming more attractive compared to equities, as bond yields rise and cash returns improve.

What impact does fiscal stimulus have on economic growth according to the text?

What changes in inflationary expectations are noted in the text?

How has the market reacted to the increase in Treasury issuance growth?

What are the current yields on the five-year and ten-year bonds mentioned in the text?

What does the speaker suggest about the attractiveness of bonds compared to equities?