NEW YORK May 13 Bond fund giant Pimco said
Tuesday in its secular outlook titled "The New Neutral" that the
next three to five years suggest an end to bull markets as
investors have known them.
In the report released on the firm's website, Pimco said
that neutral policy interest rates close to 0 percent suggest
"an end to bull markets as we've known them, but no perceptible
growling from the bears."
The firm also said that implications are for "low returns
yet less downside risk that investors currently expect," and
that it expects 10-year Treasuries to be range-bound between 2.5
to 4 percent over the next three to five years.
(Reporting by Sam Forgione Editing by W Simon)