Bloomberg Surveillance · Wednesday, July 22, 2026
Tony Cascendi from PIMCO recommends investors move from cash to core bond investments, citing current yields of 5-7% compared to money market instruments around 3%. He presented a statistic showing that core investments, with an average maturity of five to six years, have an 85% chance of beating cash on a three-year rolling basis.
“It is I'd say we should you should run from cash to core. But of course cash has it's placed. But another statistic would show that on a three year rolling basis that core investments meaning in average maturity around five six years, or the Bloomberg aggregate around six years. Three year rolling bases meaning three years from now, should be able to tell you eighty five percent confidence that core beat cash.”
“So you probably better off shifting a bit from cash to course. So I'd say run, don't walk to that idea.”