The Authority On Bonds Is Reason Why Treasuries Did Not Crumble As Equities Popped

From The Fourth Branch Of Government's Secular Outlook, Interest Rate Strategies:

With Treasury yields near the top of our expected range, PIMCO plans to overweight duration and take exposure to the 5-to 10-year portion of the yield curve. However, consistent with our Secular Outlook, we plan to also retain an emphasis on the short end of the curves in the U.S., Europe and the U.K. as central banks are likely to tighten more slowly than markets expect.

Sure, that 10 year at 3.6% is such a bargain. So let me get this straight, equity markets are planning for near hyper-inflation yet Bill Gross is happy to lock in current inflation levels. Presumably someone is wrong: here is our guess who.

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