Like other safe-haven assets, U.S. Treasurys have benefited from the recent turmoil in global equity markets. Does that make bonds a buy at current levels? "Absolutely not," says one analyst.
The rally in bond prices is probably a short-term aberration and yields, which have hit multi-month lows in the U.S. and Europe in the past week, are likely to head back up once stock markets get their mojo back, said Jack Bouroudjian, the chief investment officer at Index Financial Partners.
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"When you are looking around the world and you're looking at places to park your capital, right now that happens to be the 10-year Treasury and the Bund in Germany," he told CNBC Asia's "Squawk Box" Wednesday.
"If someone were to ask me if they should hold bonds at these levels, I would say absolutely not because the way markets have acted has been an aberration," he added.
Yields on benchmark 10-year Treasurys hit a three-month low of 2.57 percent on Monday.