Long-term Treasury yields have slid since October on speculation that the Fed has completed its aggressive tightening cycle.
Soaring oil prices amid the Ukraine crisis sent shockwaves through the bond market.
Concerns that inflation will persist have grown as costs of oil, coal and natural gas climb, adding to price pressures.
A fresh spike in Treasury yields will rattle markets, says Nouriel Roubini.
Europe needs to instead focus on political and economic reforms, he said.
He believes gold prices will reach $1,800 per ounce.
Pimco had seen assets decline by about a quarter from their peak after the surprise departure of Bill Gross.