Bond managers are assessing how bad the fallout is from Fed interest rate increases.
Consumer prices have started to fall significantly across emerging markets in recent months.
Bonds have rebounded this year after suffering double-digit losses in 2022.
The first quarter felt like a full year of drama for investors in the $24 trillion US Treasury market.
Signs of sticky inflation are weighing on longer-dated Treasurys.
There's a growing belief rates will stay elevated even after the Fed's inflation fight.
A higher peak for rates now seems almost certain.
Ten-year yields lower than two-year yields signify expectations that elevated policy rates will take an economic toll.
The $117 billion Pimco Income Fund has started to trail its very top-performing peers.
A sharp decline in yields over the past two months is mainly due to falling inflation expectations.
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