Pacific Investment Management Co. says bond yields at multi-decade highs offer attractive income for investors, who should spread their allocations across developed and emerging markets to help protect against fiscal risks.
The money manager, which oversees about $2.33 trillion, unveiled its latest 6- to 12-month cyclical outlook on Tuesday as long-dated Treasury yields hover around the highest since 2002. The benchmark 10-year note yields about 5.25%, and the 30-year around 5.65%.
