In light of the elevated market volatility we’ve witnessed in bond markets over the last year, many investors are grappling with the crucial decision of whether to stay in cash or to lock in higher yields by pivoting into a fixed income allocation. At PIMCO, we recognize the significance of this dilemma and firmly believe that the current environment presents a compelling opportunity to pivot to an active fixed income allocation. With yields near multi-year highs and world economies entering asymmetric business cycles, our analysis reveals there are important considerations that highlight the potential attractiveness of locking in yields now by rotating to core fixed income.