Stocks haven’t been this expensive relative to bonds in almost 25 years. Is a market downturn next?

3 weeks ago 2

MarketWatch Logo

Stocks haven’t been this expensive relative to bonds in almost 25 years. Is a market downturn next?

Private Companies

No results found

The Tell

Investors should position for a new global order with high-quality bonds that pay, according to Pimco

Published: June 10, 2025 at 1:53 p.m. ET

Stocks haven’t looked this expensive relative to bonds since the end of the Clinton administration ago nearly 25 years ago.

Yet bonds also look better than they have for a long time. That’s a key takeaway of a new report from bond giant Pimco, which argues that investors should be positioned in high-quality bonds as the reordering of global trade and alliances in President Trump’s second term looks likely to stick around.

About the Author

Joy Wiltermuth

Joy Wiltermuth is a news editor and senior markets reporter based in New York.

Intraday Data provided by

FACTSET

and subject to

terms of use.

Historical and current end-of-day data provided by

FACTSET. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.

Read Entire Article