When interest rates go up, it’s not good for the bond market because they’re fixed-rate long-term. PIMCO was mostly bonds. If they’re getting out of bonds, it appears they think interest rates (i.e. inflation) are going up.
I just re-scoped my 401K on Monday and left PIMCO off because they were bond-heavy.
So the guy that said deflation is coming is likely incorrect? He's the only one I've ever heard say deflation was coming.
Care to share your re-scope?