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00:00When you talk to individuals women and others as they come into the market how do you try to frame the moment at a time when uncertainty seems to be the catch phrase for everyone and people are looking at potentially a new and I'm doing this just for you Tom. A new paradigm for inflation and growth. Absolutely. And I think that's really what we're seeing right now which is the transition point in the market. This isn't a market unlike we've ever seen before. And I think that these growing pains and this volatility really does create opportunity. You know certainly we've seen real violence in the markets. Year to date. But we're now getting to levels particularly outside of equities. But when you look at fixed income markets that you know optically at least are the most attractive that they've been in a very very long time. I mean with 10 year bonds now yielding you know upwards of 3 percent and even cash rates offering pretty chunky yields it's the first time where you can actually feel like fixed income up. Absolutely. You actually offers value in markets. And Aaron I know that PIMCO has come out with this call that they're starting to be a lot of value particularly even in duration. And I'm wondering how you frame this out in terms of near-term versus long term bonds where in the world you would go for duration and how much you are fully invested. I mean how much is your conviction in this fixed income call. Sure. So I wouldn't rush into buying anything you know sort of blindly right now. I still think that we're going to have some pains over the next couple of weeks and months as inflation starts to stabilize. Really what we're looking forward to get you know much more bullish in terms of buying fixed income is starting to see inflation stabilize and start to roll over. We're not there yet. We probably have through the summer a couple of more painful months. That said I think that you can start looking at duration more attractively as you own against fixed across you know a broader multi asset perspective. Just given the fact that at least from a correlation perspective it's starting to be somewhat more negatively correlated to risk assets. Also when you look at IAG bonds they're starting to look pretty attractive. I still think that high yield just given some of the negative convexity and in those owning those assets still has probably more downside to go particularly in the riskier credits but particularly against IAG bonds and some high quality duration bonds. You know I start I would start to dip my toe and now.

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Market Volatility Creating Opportunities: Pimco's Browne

Erin Browne, multi-asset strategies portfolio manager at Pacific Investment Management Co. (Pimco), says US markets are in an environment never seen before and advises investors to "dip toe" into fixed income. She speaks during an interview on "Bloomberg Surveillance." (Source: Bloomberg)

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