PIMCO: Window to Buy U.S. Bonds Opening? Higher Long-End Yields Offer Accumulation Opportunity

PIMCO believes that while the current 30-year U.S. Treasury yield has risen to near 20-year highs, it remains close to historical averages over the long term. As long as the U.S. economy does not unexpectedly downturn, the term premium will stay elevated, and further rises in yields actually provide better entry points for long-term investors. Higher yields bring thicker coupon buffers, which can hedge against risks such as fiscal expansion, so PIMCO maintains a positive stance on U.S. Treasuries.