PIMCO bond investing legend
Gross: The secular 30-yr bull market in bonds likely ended 4/29/2013. PIMCO can help you navigate a likely lower return 2 - 3% future.
— PIMCO (@PIMCO) May 10, 2013
The chart below is a look at the 10-year U.S. Treasury yield over the past five years. The small back-up in interest rates since April 29 is highlighted on the far right.
The next chart is a zoomed-out look at the 30-year secular bond bull market. The little blip hasn't even shown up on that chart yet.
In April, PIMCO boosted its holdings of Treasuries to the highest levels in over a year, and Gross said in his May investment letter that Treasuries "are better than the alternative (cash) as long as central banks and dollar reserve countries (China, Japan) continue to participate."