After 6 Years of Losses, Ariel's Bobrinskoy Says Bonds Are Back

Ariel Investments vice chairman Charlie Bobrinskoy says now is a good time to buy bonds, with the 10-year Treasury yielding about 5% and an inflation-adjusted return near 2.7%. An artificial intelligence (AI) selloff last week coincided with a 17 basis point (0.17 percentage point) one-day drop in that yield, leaving bonds competing with Nasdaq-heavy portfolios for investors who doubt AI spending will pay off. Why Does Bobrinskoy Say Bonds Are Back? Bobrinskoy told CNBC on Tuesday that bonds posted negative returns for six years because deficits and inflation kept surprising investors. However, Bloomberg data show its US Aggregate index, a broad gauge of investment-grade bonds , gained 7.30% in 2025 and 1.25% in 2024.

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