Traders have become only more resolute that substantial monetary easing is coming soon.
Pimco's latest cyclical outlook looks for the bond market's recent gains to be sustained.
The rebound highlighted the stark shift in sentiment over the past two months.
Investors fear rates on cash-like investments could soon plunge.
Record sums are sitting in money-market funds held by investors who sought refuge from falling bond prices.
The bond market's bold bet on U.S. interest-rate cuts is set for its biggest test yet.
The outflows came as recent data revealed softening inflation.
Cooling jobs data and soft consumer inflation figures proved a boon for bonds in November.
The managers say they're comfortable buying Treasurys and other high-quality bonds at levels they finally see as attractive.
The company expects stocks and bonds to “resume their more typical inverse relationship” in 2024.
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