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Hi, and welcome to the Longview.

I'm Dan Lefkowitz, strategist for Morningstar Indexes.

And I'm Christine Ben's Director of personal finance and retirement planning for Morningstar.

Our guest this week is Sonali Pier. Sonali is a managing director and portfolio manager at Pimco,

a global leader in fixed income based in Newport Beach, California.

Sonali is lead manager for the Pimco diversified income fund, which carries a

gold rating for Morningstar, and she co-manages a number of other strategies, including Pimco high

yield and two ETFs. She serves on various committees at Pimco, and she was honored early in her career

as a rising talent by Morning Star's manager research team. Prior to joining PIMCO, Sonali was a senior credit

trader at JPMorgan, and she has a Bachelor's in Economics from Princeton. So, Nali, thanks so much

for joining us on The Longview. Well, thank you, Dan, and Christine, for having me. Absolutely. So you're a very

accomplished fixed income investor, and these are interesting times for the asset class. PIMCO put out a 2004 outlook called Prime Time for Bonds, and it noted how compelling fixed income is right now relative to equities. Now, we are hitting new highs in the stock market in February 2024. Why so bullish on bonds?

Yeah, absolutely. You know, if we look at what's occurred over the last couple years and we endured the steepest rate hiking cycle in decades,

and that essentially put fixed income in the spotlight. You know, we do agree. It's absolutely

the prime time for bonds. As we've reset yields higher, fixed income can help navigate a number of macro scenarios, right?

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